Why Corning Stock Is Surging Today

Core Insights - Corning's third-quarter results exceeded Wall Street expectations, leading to a significant increase in stock price by 6.5% [1][2] - The company reported non-GAAP earnings per share of $0.54 on revenue of $3.73 billion, surpassing analyst estimates of $0.52 per share on $3.72 billion in sales [2] Financial Performance - Revenue rose 6.6% year over year in Q3, with adjusted earnings per share increasing by 20% compared to the same quarter last year [3] - The optical communications segment saw a revenue increase of 36% year over year, reaching $1.25 billion, with enterprise customer sales up 55% [4] - Display technologies revenue increased by 4% year over year to $1.25 billion, while specialty materials revenue declined by 3% to $548 million, and environmental technologies revenue fell by 15% to $382 million [4] Future Guidance - Corning provided optimistic guidance for Q4, expecting sales growth to accelerate and earnings to grow faster than sales [5] - The company anticipates adjusted revenue of approximately $3.75 billion and adjusted earnings per share between $0.53 and $0.57, indicating potential annual growth of about 13.6% [5] - Achieving the midpoint of the adjusted earnings guidance would represent a growth of approximately 44% [6]