Corning’s Harrodsburg facility, Harrodsburg, Kentucky, USA, August 7, 2025.
John Cherry | Reuters
Glass products manufacturer stocks corning Shares soared 12% after the company announced second-quarter results on Tuesday, pushing down other optics names in the artificial intelligence space.
Despite the company outperforming sales and bottom line results, earnings estimates for the current quarter were below Wall Street consensus. The company expects core revenue to increase 16%, in the range of $4.9 billion to $5.0 billion. FactSet had expected $5 billion.
Corning reported earnings per share of 78 cents before the bell Tuesday, compared to expectations of 76 cents. Revenue was $4.74 billion, also exceeding The Street’s estimate of $4.61 billion.
Share other optical component names marvel, lumen, AXT and reasonable Losses also occurred on Tuesday, with AXT and Coherent each falling 10%.
Corning’s 5-day stock price chart.
Corning networking solutions and fiber optic cables are playing an increasingly important role in building AI data centers by enabling high-speed connectivity between facilities and internal racks and chips.
In June, Corning signed its latest multi-year agreement for power and connectivity Amazon’s The data center expansion is one of a series of $1 billion deals the company has signed in recent months as hyperscalers and other AI companies race to meet burgeoning demand for computing power.
CNBC’s Katie Tarasov contributed to this report.
