Reported 3 months ago
Corning has forecasted a lower-than-expected profit for the current quarter, attributing the decline to decreasing demand for its clean-air technologies, despite strong sales in its optical fiber division. The company's shares dropped over 8% as investors were disappointed by this outlook against a backdrop of increasing adoption of AI technologies. While the optical communications segment saw a modest sales rise, the Environmental Technologies unit experienced a downturn, leading to an overall mixed performance.
Source: YAHOO