Corning company release Oct 27: Q3 core sales $5.08B, up 19% y/y; core EPS $0.… · @AIInvestHK · TwKit

@AIInvestHK

Corning company release Oct 27: Q3 core sales $5.08B, up 19% y/y; core EPS $0.91, up 36%. Optical Communications sales $2.38B, up 44%; Enterprise Networks up 84%, with Gen AI product sales more than doubling y/y. CEO Weeks said Gen AI sales in Optical doubled y/y in the quarter and outpaced GPU unit growth. GAAP sales were $4.86B; core gross margin 40.5%, up 150 bps. Q4 outlook from the same note: core sales $5.2B-$5.3B (~19% y/y) and core EPS $0.96-$1.00 (~36% y/y). Also flagged four long-term multibillion-dollar customer deals in Q3, including Verizon and AT&T. Next watch is whether Optical keeps that Gen AI run-rate into the Dec 1 UBS Tech and AI conference update. $GLW

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