Corning Inc. posted strong third-quarter 2024 results on Tuesday, driven by rising demand for optical connectivity products tailored to generative AI applications. The company reported 8% core sales growth, reaching $3.73 billion, with core EPS up 20% to $0.54.
Optical communications saw a 55% year-over-year surge in its enterprise sector, supported by new products and a multiyear, $1 billion supply agreement with AT&T for next-gen fiber solutions.
CEO Wendell Weeks highlighted strategic advances in Corning’s “Springboard” plan, aimed at adding $3 billion in annual sales and achieving a 20% operating margin by 2026. Looking ahead, Corning anticipates accelerated fourth-quarter growth with projected core sales of $3.75 billion and a 40% increase in EPS.
FingerLakes1.com is the region’s leading all-digital news publication. The company was founded in 1998 and has been keeping residents informed for more than two decades. Have a lead? Send it to news@fingerlakes1.com.