Shares of Corning Incorporated (NYSE:GLW) slipped 5% on Tuesday after the company posted third-quarter 2025 results that topped Wall Street expectations but failed to impress investors despite a strong outlook.
The specialty glass and ceramics manufacturer reported adjusted earnings per share of $0.67, slightly above the consensus of $0.66. Revenue rose 14% year over year to $4.27 billion, beating analyst forecasts of $4.24 billion.
For the fourth quarter, Corning issued guidance ahead of expectations, forecasting revenue of about $4.35 billion versus Wall Street’s $4.26 billion estimate. It also projected adjusted EPS between $0.68 and $0.72, above the consensus of $0.67.
“We delivered another excellent quarter. Year over year, core sales grew 14% to $4.27 billion, and core EPS grew 24% to $0.67,” said Wendell P. Weeks, Chairman and CEO. “Overall, as we approach the second anniversary of Springboard, the plan has been a tremendous success.”
The Optical Communications segment led performance, with Enterprise sales surging 58% year over year, supported by strong demand for Corning’s new Gen AI products. Overall segment revenue grew 33% to $1.65 billion.
Corning expects to hit its Springboard operating margin target of 20% in Q4 2025 — a year earlier than planned. In Q3, its core operating margin expanded 130 basis points year over year to 19.6%.
The company also pointed to Apple Inc.’s recent $2.5 billion commitment to manufacture 100% of iPhone and Apple Watch cover glass at Corning’s Kentucky plant, a move it said will open up larger, long-term growth opportunities.