Investing.com - Corning reported on Tuesday first quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
Corning announced earnings per share of $0.2 on revenue of $2.39B. Analysts polled by Investing.com anticipated EPS of $0.17 on revenue of $2.45B. That with comparison to EPS of $0.4 on revenue of $2.81B in the same period a year before.Corning had reported EPS of $0.46 on revenue of $2.85B in the previous quarter.Analysts are expecting EPS of $0.21 and revenue of $2.55B in the upcoming quarter.
Corning shares are down 25.7% from the beginning of the year and are trading at $21.63 , down-from-52-week-high.They are under-performing the S&P 500 which is down 11.29% year to date.
Corning follows other major Consumer/Non-Cyclical sector earnings this month
Corning's report follows an earnings beat by Procter&Gamble on Friday, April 17, 2020, who reported EPS of $1.17 on revenue of $17.21B, compared to forecasts EPS of $1.13 on revenue of $17.31B.
Coca-Cola had beat expectations on Tuesday, April 21, 2020 with first quarter EPS of $0.51 on revenue of $8.6B, compared to forecast for EPS of $0.44 on revenue of $8.3B.
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