Corning Inc. (GLW) Surges 12% as Earnings, Outlook Impress

We recently published 10 Stocks With Surprising Gains. Time to Sell? Corning Inc. (NYSE:GLW) is one of the companies that stood stronger last week.

Corning Inc. grew its share prices by 12.08 percent week-on-week as investor sentiment was bolstered by an outstanding earnings performance and an optimistic outlook.

Based on its updated report, Corning Inc. (NYSE:GLW) expanded its net income by 351 percent in the second quarter to $469 million from the $104 million in the same period last year. Net sales also increased by 19 percent to $3.86 billion from $3.25 billion year-on-year.

According to the company, the jump was primarily driven by key secular trends and its ‘More Corning’ content strategy which helped drive demand.

Encouraged by the results, Corning Inc. (NYSE:GLW) raised its growth outlook for the rest of the year, with both sales and earnings expected to grow by double digits year-on-year.

Core sales were pegged at $4.2 billion while EPS was targeted at a range of $0.63 to $0.67.

“Third quarter guidance factors in about $0.01 to $0.02 for the impact of currently enacted tariffs, along with $0.02 to $0.03 of temporarily higher cost as production ramps to meet increased demand for new Gen AI and US-made solar products,” Corning Inc. (NYSE:GLW) said.

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