Corning (GLW) Stock Falls 17% After Q2 Earnings Despite Beat – Here’s Why
TLDR
- Corning posted Q2 adjusted EPS of $0.78, beating the $0.75 consensus, with revenue of $4.74 billion, up 17% year-over-year.
- Q3 guidance came in mostly in-line but slightly below Wall Street hopes, sending the stock down 17% in premarket trading.
- Optical Communications led growth with sales up 32% to $2.07 billion; Enterprise Networks surged 65% on Gen AI demand.
- Corning announced major deals with Amazon and NVIDIA during the quarter.
- Other optical networking stocks dropped in sympathy — Ciena and Coherent each fell 5.7%, Lumentum dropped 6%.
Corning (GLW) stock dropped 17% in premarket trading Tuesday, hitting $118.43, after the company posted strong Q2 results but delivered guidance that left investors wanting more.
Q2 adjusted EPS came in at $0.78, up from $0.60 a year ago and above the $0.75 analyst consensus. Revenue hit $4.74 billion, a 17% year-over-year jump, beating the expected $4.62 billion.
The beat wasn’t enough. Wall Street had priced in optimism after GLW’s monster run — up 64% in 2025 and roughly 160% over the past 12 months through Monday’s close.
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