Why Corning Stock Is Rising Today

Corning Incorporated GLW shares are trading higher Tuesday after the company reported better-than-expected financial results. 

Corning said first-quarter revenue increased 15% year-over-year to $3.7 billion, which beat the $3.57 billion estimate. The company reported quarterly core earnings of 54 cents per share, which beat the estimate of 50 cents per share. Core EPS increased 20% year-over-year.

"Orders continue to be strong, and we expect the benefits of our pricing actions to accelerate in the second quarter," said Ed Schlesinger, executive vice president and CFO of Corning.

Corning said it expects full-year 2022 revenue to exceed $15 billion versus the estimate of $15.03 billion.

See Also: Morning Brief: Top Financial Stories Dominating on Tuesday, April 26

GLW 52-Week Range: $33.21 - $46.82

According to Benzinga Pro, the stock was up 5% at $36.11 at the time of publication.

Photo: courtesy of Corning.

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Posted In: EarningsNewsGuidanceMoversTrading IdeasEd Schlesingerwhy it's moving