Investing.com - Corning (NYSE:GLW) reported on Tuesday second quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
Corning announced earnings per share of $0.57 on revenue of $3.76B. Analysts polled by Investing.com anticipated EPS of $0.5661 on revenue of $3.78B.
Corning shares are up 11.88% from the beginning of the year, still down 20.66% from its 52 week high of $43.47 set on February 10. They are outperforming the S&P 500 which is down 16.77% from the start of the year.
Corning shares lost 3.60% in pre-market trade following the report.
Corning follows other major Information Technology sector earnings this month
Corning's report follows an earnings beat by Taiwan Semiconductor on July 14, who reported EPS of $1.53 on revenue of $17.87B, compared to forecasts EPS of $1.44 on revenue of $17.68B.
ASML ADR had beat expectations on July 20 with second quarter EPS of $3.62 on revenue of $5.55B, compared to forecast for EPS of $3.61 on revenue of $5.56B.
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