Jan 28 (Reuters) – Corning on Wednesday forecast first-quarter sales above estimates, boosted by resilient demand for its fiber‑optic products, which generate nearly 40% of the company’s revenue.
The Gorilla Glass maker, a key supplier to Apple, has stepped up investment in its optical communications business as major technology companies race to expand data‑center infrastructure to support rising AI workloads.
On Tuesday, Corning inked an up to $6 billion multi‑year deal with Meta Platforms to supply fiber‑optic cables for the social media giant’s AI‑focused data centers.
Corning’s optical connectivity hardware is central to handling the heavy computing and data‑transmission requirements of modern AI infrastructure.
The company’s shares fell more than 4% despite the better-than-expected results, pulling back a little from its 15% jump on Tuesday following the Meta deal announcement.
“The numbers were good this morning, but probably baked in after yesterday’s announcement. The slight sell-off is probably just a tempering of the excitement in trading yesterday,” said William Kerwin, senior equity analyst at Morningstar.
For the first quarter of 2026, Corning expects core sales in the range of $4.2 billion to $4.3 billion, the mid-point of which is above analysts’ estimates of $4.23 billion, according to data compiled by LSEG.
The company’s optical communications division recorded net sales of $1.70 billion for the fourth quarter, in line with estimates.
Core sales for the quarter beat expectations at $4.41 billion, compared with estimates of $4.35 billion.
(Reporting by Kritika Lamba in Bengaluru; Editing by Jonathan Ananda)
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