By Dave Sebastian

Corning Inc.'s (GLW) posted lower third-quarter profit as revenue declined.

For the quarter ended Sept. 30, the glass company posted net income of $337 million, or 38 cents a share, compared with $625 million, or 67 cents a share, in the comparable quarter last year. Analysts polled by FactSet were expecting 44 cents a share.

On an adjusted basis, earnings were 44 cents a share, compared with 51 cents a share a year earlier. Analysts were looking for 39 cents a share.

Revenue for the quarter fell to $2.93 billion from $3 billion in the prior year.

Corning reported adjusted sales of $2.97 billion, compared with $3.05 billion last year. Analysts were looking for $2.88 billion.

Write to Dave Sebastian at dave.sebastian@wsj.com

(END) Dow Jones Newswires

October 29, 2019 07:49 ET (11:49 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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