Corning Inc. Q2 Profit Increases, Beats Estimates

(RTTNews) - Corning Inc. (GLW) announced earnings for its second quarter that Increased from last year and beat the Street estimates.

The company's bottom line totaled $469 million, or $0.54 per share. This compares with $104 million, or $0.12 per share, last year.

Excluding items, Corning Inc. reported adjusted earnings of $523 million or $0.60 per share for the period.

Analysts on average had expected the company to earn $0.57 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 18.8% to $3.862 billion from $3.251 billion last year.

Corning Inc. earnings at a glance (GAAP) :

-Earnings: $469 Mln. vs. $104 Mln. last year. -EPS: $0.54 vs. $0.12 last year. -Revenue: $3.862 Bln vs. $3.251 Bln last year.

-Guidance: Next quarter EPS guidance: $0.63 - $0.67 Next quarter revenue guidance: $4.2 Bln