Corning Inc. Q1 Profit Beats Estimates

(RTTNews) - Corning Inc. (GLW) revealed earnings for first quarter that beat the Street estimates.

The company's bottom line came in at $581 million, or $0.68 per share. This compares with $599 million, or $0.67 per share, in last year's first quarter.

Excluding items, Corning Inc. reported adjusted earnings of $465 million or $0.54 per share for the period.

Analysts on average had expected the company to earn $0.50 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 14.7% to $3.74 billion from $3.26 billion last year.

Corning Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $581 Mln. vs. $599 Mln. last year. -EPS (Q1): $0.68 vs. $0.67 last year. -Analyst Estimates: $0.50 -Revenue (Q1): $3.74 Bln vs. $3.26 Bln last year.

-Guidance: Next quarter EPS guidance: Adj: $0.54 - $0.59 Next quarter revenue guidance: $3.7 - $3.9 Bln