Shares of Corning (GLW), a beneficiary of the 澳洲幸运5官方开奖结果体彩网:artificial intelligence (AI) boom, tumbled Tuesday after the specialty glass maker's second-quarter results and current-quarter guidance missed analysts' expectations.

The company's shares soared earlier this month after it lifted its second-quarter adjusted earnings gಞuida𓄧nce on AI fueling demand for its optical products. But on Tuesday, its shares plunged 8.5% as of 12:30 p.m. ET on GAAP Q2 results that missed estimates and a disappointing third-quꦅarter outlook. 

Corning said that it expects core sales to grow to about $3.7 billion in the third quarter, with core 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) in the range of $0൲.50 to $0.54.𝓰 Analysts polled by Visible Alpha had been expecting $3.75 billion and $0.55, respectively.

Q2 GAAP Results Also Miss;♛ Adjusted Fig🀅ures Better

For the second quarter, Corning reported EPS of $0.12 on revenue of $3.25 billion, while analysts were looking for $🍃0.33 and $3.36 billion, respectively.

However, Corning's adjusted Q2 figures were stronger. It posted core EPS of $0.47, topping its own raised guidance, on $3.6 billion in core sales, which matched its revised expectations. The core EPS figure matched Visible Alpha estimates and core sales narrowly beat them.

澳洲幸运5官方开奖结果体彩网:Chief Executive Officer (CEO) Wendell Weeks said the results were൲ "driven primarily by the strong adoption of our💦 new optical connectivity products for generative AI."

Despite their slump Tuesday, Corning shares have gained 28% year-to-date.