Corning Inc. Releases 2nd Quarter Earnings
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CORNING, N.Y. (WENY) - Corning Inc. released its second quarter 2023 financial results Tuesday touting what it called notable progress in profitability and cash flow.
Despite the fact that sales are down on a year by year basis, Corning cited a weak market environment as the root cause.
Despite the down market, Corning reported GAAP sales of $3.2 billion, up 2% from last quarter. Core sales were up 3% from last quarter at $3.5 billion, primarily driven by display technologies.
As a result, Corning said second quarter free cash flow improved from the first quarter to $310 million.
Corning said it expects similar numbers for the 3rd quarter.
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