financetom
Business
financetom
/
Business
/
Corning sees second-quarter core sales above estimates as AI boom aids demand
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Corning sees second-quarter core sales above estimates as AI boom aids demand
May 25, 2025 8:45 PM

(Reuters) -Corning forecast second-quarter core sales above Wall Street expectations on Tuesday, aided by strong demand for its optical connectivity products used in AI-related infrastructure.

Shares of the company, which also makes Gorilla Glass, rose more than 1% in premarket trading.

Corning's cables and connectors are benefiting from businesses pouring money into new data center projects, which require equipment that can rapidly process data to train artificial intelligence models.

"In optical communications, sales in our enterprise business were up 106% year over year on continued strong demand for our new products for Gen AI," said Corning CEO Wendell Weeks.

Telecom companies' push to expand their 5G networks to cater to more users has also driven up demand for Corning's optic fiber products.

Corning is also a major supplier of glass for Apple's products and could stand to benefit from the iPhone maker's plans to invest $500 billion in the U.S. over the next four years.

The specialty glass maker forecast second-quarter core sales of around $3.85 billion, compared with estimates of $3.82 billion, according to data compiled by LSEG.

The company expects second-quarter adjusted earnings per share in a range of between 55 cents and 59 cents per share, compared with estimates of 56 cents.

It reported first-quarter core sales of $3.68 billion, beating estimates of $3.64 billion.

On an adjusted basis, the company earned 54 cents per share, compared with estimates of 51 cents.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Japan, France mull rare earths deal to cut China reliance, Nikkei reports
Japan, France mull rare earths deal to cut China reliance, Nikkei reports
Mar 31, 2026
April 1 (Reuters) - Japanese Prime Minister Sanae Takaichi and French President Emmanuel Macron will agree to create a roadmap for diversifying supplies of rare earths and other critical minerals, the Nikkei reported on Wednesday. The report said a joint statement will be issued by the two leaders, which will express concern over export restrictions on critical minerals. Reuters could...
US customs agency says tariff refund system progressing, but payments may take up to 45 days
US customs agency says tariff refund system progressing, but payments may take up to 45 days
Mar 31, 2026
WASHINGTON, March 31 (Reuters) - The U.S. customs agency said on Tuesday it was making progress in setting up a streamlined process for refunding some $166 billion in tariff collections deemed illegal by the Supreme Court, but that its new system could take up to 45 days to review and process refund applications. In a filing with the U.S. Court...
Update: Aehr Test Systems Shares Surge After Order Won From Data Center Optics Customer
Update: Aehr Test Systems Shares Surge After Order Won From Data Center Optics Customer
Mar 31, 2026
02:26 PM EDT, 03/31/2026 (MT Newswires) -- (Updates with recent stock movement in headline and first paragraph.) Aehr Test Systems ( AEHR ) shares were up 21% in afternoon trading on Tuesday after the company said it received an initial order from a major networking and data center optics customer developing silicon photonics transceivers. The company said the order includes...
Bruker, Seer Each Claim Partial Win in US Patent Board Ruling
Bruker, Seer Each Claim Partial Win in US Patent Board Ruling
Mar 31, 2026
02:24 PM EDT, 03/31/2026 (MT Newswires) -- Bruker ( BRKR ) and Seer (SEER) each claimed favorable outcomes after the US Patent Trial and Appeal Board issued a ruling on US Patent No. 11,435,360, a proteomics-technology patent owned by Brigham and Women's Hospital and exclusively licensed to Seer. Bruker ( BRKR ) said Tuesday the decision invalidated the patent's sole...
Copyright 2023-2026 - www.financetom.com All Rights Reserved