Corning forecast Q1 results above are the estimates of strong demand for AI related infrastructure

Corning forecasts Q1 results above estimates on robust demand for AI-related infrastructure

2025-01-29 18:33:00 :

January 29th (Reuters) -On Wednesday, Corning predicts the first quarter revenue and profit that defeated Wall Street’s expectations. Gorilla glass manufacturers expect their strong demand for optical fiber products related to artificial intelligence related infrastructure.

The stock headquarters in New York rose 5.6 %.

Consumers and enterprises’ adoption of AI technology have increased their demand for optical fiber for high -speed transmission data.

US President Donald Trump’s 500 billion US dollars of interstellar -interstellar project announced by Donald Trump is also expected to benefit Corning because certain products are expected to be deployed to connect different systems, servers and network devices.

The company is a network component of the telecommunications industry manufacturing operator, as well as glass substrates for tablet display, including LCD display.

Corning said that compared with analysts’ expectations of US $ 3.53 billion, Corning is expected to revenue in the first quarter of $ 3.6 billion, and LSEG data shows.

According to the adjustment, it is expected that the profit in the first quarter is between 48 cents per share and 52 cents, and the midpoint is higher than the average value of the analyst’s estimation of 48 cents.

According to data compiled by LSEG, the quarterly revenue of 3.87 billion US dollars as of December 31 as of December 31 was defeated by analysts’ estimated $ 3.76 billion.

Corning reported on the quarterly adjusted profit of 57 cents on the quarterly adjustment of this quarter, while analysts expect the profit per share to be 56 cents.

Its optical communications part is the largest income. As of December 31, the quarter’s revenue was 1.37 billion US dollars. This exceeded the analyst’s estimated value of 1.29 billion US dollars.

According to data compiled by LSEG, the revenue of the display technology field in this quarter was US $ 971 million, and analysts are expected to be $ 976.7 million.

(Rishi Kant’s report in Bangalore; editor of Leroy Leo)

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