Corning net income drops 13%, shares fall

Corning Inc. GLW, +0.99% connected Tuesday reported a 13% driblet successful nett income to $371 million, oregon 43 cents a share, from $427 million, oregon 48 cents a share, successful the year-ago quarter. Adjusted nett roseate to 56 cents a stock from 43 cents a share. Revenue accrued to $3.615 cardinal from $3.001 billion. Analysts expected Corning to gain 58 cents a stock connected gross of $3.632 billion, according to a FactSet survey. Corning said it expects 2021 net of astatine slightest $2 a stock connected gross of $14 cardinal oregon more. Analysts expect net of $2.13 a stock connected $14.02 cardinal successful gross for the company. Shares of Corning dropped 3.4% successful pre-market trades. The banal is up 7.3% this year, lagging the 21.6% summation by the S&P 500.