Corning falls 16% after forecasting weaker-than-expected Q3 sales

Corning Incorporated

28/07/2026 13:10

July 28 (Reuters) - Corning GLW.N on Tuesday forecast third-quarter sales that fell slightly short of Wall Street expectations after reporting slower growth in its key fiber optics unit, sending its shares down more than 16% in premarket trading. 
The company supplies optical fiber products that are crucial in data center development. The fast-growing fiber optics unit has helped Corning bolster business at a time when softer consumer electronics demand has hurt the segment that makes Gorilla glass.
Its shares have risen about 64% so far this year after gaining 84.2% in 2025. 
Here are some details:
Sales in Corning's Optical Communications segment rose 32% to $2.07 billion, compared with 36% growth in the prior quarter. The growth rate was also below the 81% increase recorded in the year-earlier period. 
Corning said demand for products used in generative AI infrastructure continued to accelerate, helping offset more muted growth in some of its other businesses.
Sales in the Solar segment nearly doubled to $438 million, although the business reported a quarterly loss following a maintenance shutdown and equipment upgrade. The company expects profitability to improve in the third quarter.
Corning, a key supplier to Apple, has been hurt by softer global smartphone demand, which has weighed on volumes for its specialty glass products, particularly in display technologies.
Corning forecast third-quarter core sales of $4.9 billion to $5.0 billion and adjusted EPS of 85 cents to 89 cents, implying year-over-year growth of about 16% and 28%, respectively.
Corning reported second-quarter revenue of $4.74 billion, compared with analysts' estimate of $4.61 billion, according to LSEG data
During the quarter, Corning expanded its AI infrastructure push through new partnerships with Amazon and Nvidia. 

 (Reporting by Rashika Singh in Bengaluru; Editing by Pooja Desai)
 ((Rashika.Singh@thomsonreuters.com;))