Corning (NYSE: GLW) reported earnings today. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Corning beat expectations on revenues and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue improved, and earnings per share dropped significantly.

Gross margins expanded, operating margins grew, net margins dropped.

Revenue details
Corning logged revenue of $1.9 billion. The 16 analysts polled by S&P Capital IQ expected to see revenue of $1.8 billion. Sales were 6.9% higher than the prior-year quarter's $1.8 billion

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions.

EPS details
Non-GAAP EPS came in at $0.33. The 20 earnings estimates compiled by S&P Capital IQ averaged $0.33 per share on the same basis. GAAP EPS of $0.31 for Q4 were 53% lower than the prior-year quarter's $0.66 per share.

Source: S&P Capital IQ. Quarterly periods. Figures may be non-GAAP to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 43.7%, 20 basis points better than the prior-year quarter. Operating margin was 19.1%, 130 basis points better than the prior-year quarter. Net margin was 26.0%, 3,320 basis points worse than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $1.9 billion. On the bottom line, the average EPS estimate is $0.35.

Next year's average estimate for revenue is $8.2 billion. The average EPS estimate is $1.68.

Investor sentiment
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 4,897 members out of 5,007 rating the stock outperform, and 115 members rating it underperform. Among 1,070 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 1,054 give Corning a green thumbs-up, and 16 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Corning is outperform, with an average price target of $17.14.

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