Corning Surges As AI Demand Boosts Revenue And Margins

Corning (NYSE:GLW) posted second-quarter earnings that beat estimates, fueled by strong demand for products used in artificial intelligence infrastructure, sending shares up 12% in intra-day trading.

The company reported core earnings per share of $0.60, ahead of analysts' forecast of $0.57. Revenue climbed to $4.05 billion, surpassing the $3.86 billion consensus and reflecting 12% year-over-year growth.

Core operating margin expanded 160 basis points to 19%, while core EPS rose 28% from the year-ago period. Free cash flow jumped 28% to $451 million.

Corning’s Optical Communications unit led the way, with sales surging 41% to $1.57 billion. Within that, Enterprise sales jumped 81%, driven by sustained demand for next-generation AI solutions.

Looking ahead, Corning projected third-quarter core sales of $4.2 billion and core EPS between $0.63 and $0.67. The outlook includes modest impacts from tariffs and elevated costs tied to scaling production for AI and U.S.-based solar products.