Corning (NYSE:GLW) Soars on Revenue Hit, Guidance, but EPS Misses

Corning (NYSE:GLW) reported a significant beat in revenue, and the stock was rewarded by traders today, as it was up over 6 percent at 12:00 PM EST.

But their guidance that sales from their joint venture with Samsung would get better in the second quarter also has driven the stock price, as well as several other more bullish outlooks for certain segments of the company.

Revenue for the fourth quarter reached $1.77 billion a 15 percent gain, and far above the $1.61 billion analysts were looking for on average. Earnings per share were a penny shy of the 46 cents expected.

Corning’s “Gorilla Glass” performed especially well for them, helping their specialty materials segment grow by 79 percent.

Corning was trading at $20.85, gaining $1.21, or 6.16 percent, as of 12:04 PM EST.