US Stock Market Move | Corning Inc (GLW.US) Reverses Decline as Q3 Results Beat Market Expectations Across the Board

On Tuesday, Corning Inc (GLW.US) fell at the open, dropping more than 4% at one point, before reversing course and moving higher. As of publication, it was up slightly by 0.11%. On the news front, Corning Inc released its third-quarter 2026 results before the market open, beating market expectations across the board. Its optical communications business posted substantial growth, boosted by generative AI demand, driving strong growth in both core sales and earnings per share, while its fourth-quarter guidance also came in above expectations. The company's core sales for the quarter were US$5.081 billion, up 19% year over year and above market expectations of about US$5.02 billion. The company said this was its strongest growth rate since the launch of its "20-30-40" Springboard growth plan. Core earnings per share were US$0.91, up 36% year over year and also above expectations of US$0.89. On a GAAP basis, net sales were US$4.855 billion and diluted earnings per share were US$0.78, up 18% and 56% year over year, respectively. Optical communications was the main growth engine this period. Segment sales were US$2.379 billion, up 44% year over year, with net income of US$532 million, up 80%. Among this, enterprise network sales grew 84%, and sales of generative AI-related products more than doubled year over year. The company said growth has outpaced the increase in GPU shipments. Optical communications now accounts for about 47% of core sales.