The performance of the hottest LCD glass products

2022-08-05
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The performance of LCD glass products affected Corning's net profit by 39%

it was reported in the early morning of July 26, Beijing time that the characteristics of the world's largest LCD glass manufacturer's large-scale testing machine were highlighted. Corning company (GLW) reported on Wednesday that its net profit fell by 39% in the second quarter, mainly due to the decline in sales and prices of LCD glass products

the company's net profit for the quarter fell to $462million, or 30 cents per share, from $755million, or 47 cents per share, in the same period last year

excluding one-time items, the adjusted earnings per share of the company in the quarter was 31 cents, lower than the average forecast of 32 cents by analysts surveyed by FactSet since 2017

the revenue decreased to US $1.91 billion from US $1.92 billion in the same period of the previous year, lower than the average analyst expectation of US $2.02 billion

Corning said that the LCD glass sales of its display technology department in the second quarter showed a "medium unit" decline. Although LCD (1) focused on a batch of key strategic materials, glass prices continued to fall, but the rate of decline slowed down compared with previous quarters

the revenue of display technology department decreased by 16% to USD 641million; The revenue of the special materials division increased by 5% to USD 296million

the company predicts that the third quarter profit will decrease by about 30% on the basis of the second quarter, mainly due to the lack of support from the one-time income of US $11million recorded in the second quarter, and the impact of plant closure in the summer on the profit

Corning also said that it is expected that LCD glass sales in the third quarter will show a "low double-digit" growth on the basis of the second quarter. Sales of special materials are expected to increase by% on the basis of the second quarter. Zhonghua glass () Department

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