CORNING, N.Y. (AP) — CORNING, N.Y. (AP) — Corning Inc. (GLW) on Tuesday reported first-quarter net income of $176 million.
The Corning, New York-based company said it had profit of 20 cents per share. Earnings, adjusted for non-recurring costs and restructuring costs, were 41 cents per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 39 cents per share.
The specialty glass maker posted revenue of $3.18 billion in the period. Its adjusted revenue was $3.37 billion, also topping Street forecasts. Five analysts surveyed by Zacks expected $3.33 billion.
For the current quarter ending in June, Corning expects its per-share earnings to range from 42 cents to 49 cents.
The company said it expects revenue in the range of $3.4 billion to $3.6 billion for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $3.75 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GLW at https://www.zacks.com/ap/GLW
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