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Corning reports Q3 earnings
Shipping Corning cable from the company’s largest fiber-optic manufacturing facility in rural Midland, NC (Travis Dove/Getty Images)

Corning tumbles despite in-line to positive Q3 results and bright Q4 outlook

AI has been a source of surging demand for the 174-year-old company’s fiber-optic cables, which are used to help link servers in data centers.

Matt Phillips

Corning is tumbling even as the the 174-year-old glass maker and pioneer of Pyrex and fiber-optic cables reported in-line to positive Q3 results on Tuesday, along with a better-than-anticipated Q4 outlook.

Corning reported:

  • Core earnings per share of $0.67, in line with consensus expectations from analysts, according to Bloomberg.

  • Core sales of $4.27 billion vs. a $4.23 billion consensus expectation from analysts.

  • The company expects fourth-quarter core sales of about $4.35 billion compared to a consensus estimate of $4.29 billion from Wall Street, with core EPS between $0.68 and $0.72, the midpoint of which is also above Wall Street’s estimate of $0.68.

“The 4Q outlook suggests sustained AI-driven optical demand,” Bloomberg Intelligence analysts Woo Jin Ho and Kiran Jagtiani wrote.

However, the early reaction to these results suggests that while Corning continues to capture benefits from the AI data center building boom, it may take more to impress investors in light of its strong performance year to date.

Through the end of trading on Monday, Corning shares were up nearly 90% in 2025, as the company takes advantage of rising demand tied to the AI investment boom. That would be the best year for the stock since 2009, when it rose 103%.

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Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

  • Revenue of $11.0 billion (estimate: $10.8 billion).

  • Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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