FX.co ★ Corning Inc. Q1 Profit Increases, beats estimates

Corning Inc. recently announced their first quarter earnings, showcasing an increase from the previous year and surpassing Street's predictions. The company's earnings came to $209 million, translating to $0.24 per share. This is an increase from $176 million, or $0.20 per share from last year’s first quarter.

After excluding particular items, Corning reported an adjusted earnings of $330 million, or $0.38 per share, for this period. On average, analysts had anticipated the company to profit $0.35 per share, as gathered by Thomson Reuters. It's worth noting that these estimates generally exclude any special items.

However, the company's revenue for the quarter experienced a 6.4% decline, falling to $2.975 billion from $3.178 billion the previous year.

A quick glance at Corning Inc.'s earnings using Generally Accepted Accounting Principles (GAAP) reveals the following:

- First quarter earnings: $209 million, an increase from $176 million last year.

- First quarter earnings per share (EPS): $0.24, up from $0.20 the previous year.

- First quarter revenue: $2.975 billion, down from $3.178 billion last year.

The company also provided guidance for the next quarter, forecasting an EPS between $0.42 and $0.46, and anticipates revenues around $3.4 billion.