Corning Inc. Reports 17% Decline In Q2 Profit

(RTTNews) - Corning Inc. (GLW) reported earnings for second quarter that decreased from last year.

The company said its bottom line came in at $434 million, or $0.37 per share. This was down from $522 million, or $0.38 per share, in last year's second quarter.

Analysts had expected the company to earn $0.32 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 3.2% to $2.44 billion. This was down from $2.52 billion last year.

Corning Inc. earnings at a glance:

-Earnings (Q2): $434 Mln. vs. $522 Mln. last year. -Earnings Decline (Y-o-Y): -16.9% -EPS (Q2): $0.37 vs. $0.38 last year. -EPS Decline (Y-o-Y): -2.6% -Analysts Estimate: $0.32 -Revenue (Q2): $2.44 Bln vs. $2.52 Bln last year. -Revenue Change (Y-o-Y): -3.2%