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Corning shares plunge after guidance misses elevated expectations
The fiber and optical components maker reported Q2 core sales of $4.74 billion and projected Q3 core sales of $4.9 billion to $5.0 billion.
Corning Incorporated (GLW) slid more than 20% after its outlook for the next quarter fell short of elevated expectations, even as the company reported strong optical results in the quarter. In the second quarter, Corning posted core sales of $4.74 billion, up 17% year over year, and core earnings of $0.78 per share, up 30%. Optical Communications sales rose 32% to $2.07 billion, with Enterprise Networks growing 65%, and the company said generative-AI product sales grew significantly faster.
Despite that momentum, Corning projected third-quarter core sales of $4.9 billion to $5.0 billion, representing about 16% year-over-year growth but slightly below Wall Street expectations, according to Reuters. Optical Communications growth also eased from 36% in the first quarter to 32% in the second, with the stock having already gained about 64% in 2026 through the prior close.
The article also links Corning’s results to demand for Coherent Corp. (COHR) components used in AI data-center links, noting that Corning provides the passive layer, including optical fiber and connectors, while Coherent supplies active devices and transceivers. It said Corning’s order pace can offer a partial read-through on transceiver demand timing but cannot by itself determine Coherent’s market share, pricing, or margins.