Corning's (GLW) third-quarter profit rose 22% from a year earlier, as higher sales of the company's automotive and diesel-emission products more than offset the falling glass prices for flat-panel TVs.
It's being called a breakthrough in electronics production, but Corning's made-in-the-U.S.A. Gorilla glass is actually decades old. And now it's poised to go from the face of smartphones to borderless flat-screen TVs.
Corning's second-quarter profit jumped 49%, beating analysts' estimates as sales grew by 23%. But while the high-tech glass-maker expects demand to remain high for its products, it expects little change in sales in the current quarter. Shares fell about 2% in premarket trading.