Similar companies
Income Statement (USD)
| Q3 '24 | QoQ | |
|---|---|---|
| Revenue | 3.39B | 4.3% |
| Gross Profit | 1.14B | 19.8% |
| Cost of Revenue | 2.25B | 2.1% |
| Operating expense | 675M | 34.7% |
| Net Income | -117M | 212.5% |
| EBITDA | 333M | 54.2% |
Balance Sheet (USD)
| Q3 '24 | QoQ | |
|---|---|---|
| Total Assets | 28.3B | 4.2% |
| Total Liabilities | 16.9B | 3.7% |
| Total Equity | 11.1B | 4.9% |
| Shares Outstanding | 854M | 0.1% |
Cash Flow (USD)
| Q3 '24 | QoQ | |
|---|---|---|
| Cash from operations | 699M | 34.2% |
| Cash from investing | -199M | 29.2% |
| Cash from financing | -332M | 9.2% |
EPS
Financial Highlights for Corning in Q3 '24
Corning reported a revenue of 3.39B, which is a 4.3% change from the previous quarter. An increase in revenue typically indicates growing demand for the company's products or services. This positive change in revenue is a good sign, suggesting that the company's sales are moving in the right direction.
Gross Profit stood at 1.14B, marking a 19.8% change since the last quarter. Gross profit showcases the efficiency in production and sales processes.
Cost of Revenue was 2.25B, a -2.1% difference from the previous quarter. A rising cost of revenue may suggest increased production or sales costs, which can impact margins. However, if accompanied by a proportionate rise in revenue, it could indicate scaling operations.
Operating Expenses for this period were 675M, showing a 34.7% change from the last quarter. Operating expenses cover the costs of running daily business operations. A significant increase might indicate inefficiencies or investments in growth, while a decrease could suggest cost-saving measures or potential underinvestment in key areas.
Net Income for the quarter was -117M, showing a -212.5% change from the prior quarter. Net income provides a clear picture of the company's profitability after all expenses. An increase suggests the company is becoming more profitable, while a decrease may raise concerns about the company's financial health, unless there are specific one-time costs or investments.
The company's EBITDA for the quarter was 333M, showing a 54.2% change from the previous period. EBITDA gives insight into the company's operational profitability, excluding non-operating expenses like interest and taxes. A rising EBITDA indicates strong operational performance, while a declining EBITDA may signal operational challenges or increased costs.
Corning faced some challenges this quarter with a decline in one or more of the key metrics: revenue, gross profit, or net income. Higher operating expenses might indicate increased investments or potential inefficiencies.
