Corning Reports 19% Increase in Net Profit for Fiscal Q2 2026
Corning announced a net profit of $559 million for its fiscal second quarter of 2026, a 19% increase year-over-year. The company's total revenue grew by 17% to $4.505 billion.
Corning, a manufacturer of glass and ceramics, reported a net profit attributable to its shareholders of $559 million for its fiscal second quarter ended June 30, 2026. This represents a 19% increase compared to the same period last year. The company's total revenue rose 17% to $4.505 billion.
The profit growth was significantly boosted by a 32% increase in optical communications sales and a 65% rise in enterprise network sales. Despite broader industry trends, demand for Corning's products, particularly those supporting artificial intelligence infrastructure, showed strong momentum. Key agreements with Amazon and Nvidia were highlighted, further solidifying Corning's role in high-growth areas.
Corning has updated its long-term growth targets, aiming for an annualized revenue of $20 billion by the end of fiscal 2026, reaching $40 billion by the end of fiscal 2030. The company projects a compound annual revenue growth rate of 19% from its fiscal fourth quarter of 2026 through the fourth quarter of fiscal 2030, with earnings growth expected to outpace revenue growth.
For the third fiscal quarter of 2026, Corning anticipates core sales to increase by approximately 16%, ranging from $4.9 billion to $5.0 billion. Core earnings per share are projected to grow about 28% within the range of $0.85 to $0.89. The company expects improved profitability in its solar division during the upcoming quarter.