Corning: Q4 Earnings Snapshot
By AP News
Published - Jan 30, 2024, 07:24 AM ET
Last Updated - Jan 30, 2024, 07:24 AM EST
CORNING, N.Y. (AP) — CORNING, N.Y. (AP) — Corning Inc. (GLW) on Tuesday reported a loss of $40 million in its fourth quarter.
The Corning, New York-based company said it had a loss of 5 cents per share. Earnings, adjusted for non-recurring costs and restructuring costs, were 39 cents per share.
The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 40 cents per share.
The specialty glass maker posted revenue of $2.99 billion in the period. Its adjusted revenue was $3.27 billion, which topped Street forecasts. Six analysts surveyed by Zacks expected $3.26 billion.
