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Corning shares drop 12% after Q3 guidance falls below estimates
Corning reported Q2 core EPS of 78 cents and revenue of $4.74 billion, but investors focused on Q3 core EPS of 85 to 89 cents and sales of $4.9 billion to $5.0 billion.
Corning posted a Q2 2026 earnings beat, but its stock slid sharply after third-quarter guidance came in below Wall Street expectations, according to MarketBeat Ratings. Shares fell 12% on Tuesday and extended a sell-off that has already cut the stock down 50% over the past 30 days, despite still being up about 100% over the past year.
The company’s core EPS for the quarter was 78 cents, up 30% year over year and ahead of the 76 cents analysts expected. Revenue totaled $4.74 billion, topping estimates as well.
Corning said its Optical Communications segment, tied to AI infrastructure buildouts, grew sales 32% to $2.07 billion, with net income in that segment up 77%. Still, the market reaction centered on guidance, with Corning forecasting Q3 core EPS of 85 cents to 89 cents and core sales of $4.9 billion to $5.0 billion.
MarketBeat Ratings highlighted that management framed the outlook as a comparison effect rather than a demand slowdown. CEO Wendell Weeks and CFO Ed Schlesinger said the guidance was not meant to signal decelerating demand, and they pointed to continued contributions from enterprise optical demand tied to hyperscaler buildouts.