Corning Stock Jumps as Specialty Glass Maker Raises Long-Term, Q1 Outlooks | Global News Avenue

Corning’s shares (gloom), beneficiary Artificial Intelligence (AI) BOOM rose about 1% on Tuesday after professional glass manufacturers improved their long-term and first-quarter outlook.

Corning manufactures professional glass and ceramic products, including glass and fiber optic cable TVs for smartphones Data Center SolutionsAs investment in artificial intelligence grows, demand surges.

The company said it now expects sales in the first quarter to exceed $3.6 billion, and Earnings per share (EPS) “Come in at the high end of $0.48 to $0.52.” As Visible Alpha reported, the new first-quarter sales outlook exceeded analysts’ expectations for $3.51 billion for the period.

Corning had previously said it expected core sales to grow about 10% year-on-year to $3.6 billion, with core earnings per share rising about 30% to 48 cents and 52 cents.

Corning also canceled its long-term goal on Tuesday.

“Today, we have improved our high confidence springboard program and now add more than $4 billion Annualization Sales and implements Operating profit margin CEO Wendell Weeks said 20% by the end of 2026.

Corning shares have grown 46% over the past 12 months.