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Corning (GLW) Beats on Q3 Earnings, Revenues Up Y/Y
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We’ve come to take for granted that our smartphones and tablets will have quality glass displays that will be scratch resistant, break-resistant and touch responsive. And that’s exactly what Corning Inc. (GLW - Free Report) promises with its glass substrates.
Corning is behind the displays in TVs, smartphones, etc. Receding inventory and stabilizing prices in the LCD TV market are positives for this business. It also offers cover glass in the form of Gorilla Glass and is expanding applications for this technology.
And that isn’t all; the company also offers fiber optics for communications networks, auto products for environmental compliance and other glass products for life science applications.
Corning has a strong history when it comes to recent earnings reports as the stock has beaten estimates in all the last four quarters.
Currently, Corning has a Zacks Rank #5 (Strong Sell).
However, the Zacks Rank could definitely change following the company’s third-quarter 2017 report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: The Zacks Consensus Estimate declined a penny to 40 cents per share in the last 7 days. Corning’s core earnings of 43 cents per share beat this estimate by almost 7.5% and climbed up 2% from the year-ago quarter.
Revenues: Corning beat revenues, which at $2.70 billion was ahead of the Zacks Consensus Estimate of $2.58 billion. Revenues increased 6% on a year-over-year basis.
Key Stats: The revenue growth was driven by robust performance from Optical Communications (up 15%) and Specialty Material (up 26%).
Stock Price: Shares are up almost 1% in the pre-market session.
Check back for our full write up on this Corning earnings report later!
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It's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 - Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
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Corning (GLW) Beats on Q3 Earnings, Revenues Up Y/Y
We’ve come to take for granted that our smartphones and tablets will have quality glass displays that will be scratch resistant, break-resistant and touch responsive. And that’s exactly what Corning Inc. (GLW - Free Report) promises with its glass substrates.
Corning is behind the displays in TVs, smartphones, etc. Receding inventory and stabilizing prices in the LCD TV market are positives for this business. It also offers cover glass in the form of Gorilla Glass and is expanding applications for this technology.
And that isn’t all; the company also offers fiber optics for communications networks, auto products for environmental compliance and other glass products for life science applications.
Corning has a strong history when it comes to recent earnings reports as the stock has beaten estimates in all the last four quarters.
Currently, Corning has a Zacks Rank #5 (Strong Sell).
You can see the complete list of today’s Zacks #1 Rank stocks here.
However, the Zacks Rank could definitely change following the company’s third-quarter 2017 report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: The Zacks Consensus Estimate declined a penny to 40 cents per share in the last 7 days. Corning’s core earnings of 43 cents per share beat this estimate by almost 7.5% and climbed up 2% from the year-ago quarter.
Revenues: Corning beat revenues, which at $2.70 billion was ahead of the Zacks Consensus Estimate of $2.58 billion. Revenues increased 6% on a year-over-year basis.
Key Stats: The revenue growth was driven by robust performance from Optical Communications (up 15%) and Specialty Material (up 26%).
Stock Price: Shares are up almost 1% in the pre-market session.
Corning Incorporated Price
Corning Incorporated Price | Corning Incorporated Quote
Check back for our full write up on this Corning earnings report later!
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 - Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>