Corning 3Q profit falls but still beats Wall Street forecast

Corning 3Q profit slips, but TV glass demand rose

ROCHESTER, N.Y. — Corning Inc. says demand continues to improve for glass used in flat-screen televisions, one of its key products.

But the world’s largest maker of liquid-crystal-display glass says its third-quarter profit fell from a year ago as overall revenue slipped.

Both it earnings per share and revenue beat Wall Street expectations, however.

Corning says it earned $643 million, or 41 cents a share in the July-September period. That’s down from $768 million, or 49 cents a share, a year earlier.

Excluding unusual items, its profit of 42 cents a share beat Wall Street’s forecast of 39 cents a share.

Corning says sales fell 5 percent to $1.48 billion. That also beat analysts’ forecasts of $1.42 billion.