Corning (GLW) Q4 FY2025 earnings: revenue $4.2 billion, up 20.4% on the year

Corning Inc. (GLW) reported revenue of $4.2 billion for Q4 FY2025, the quarter ended 31 December 2025, up 20.4% on the same quarter a year earlier. Net income was $540 million, up 74.2% on the year, and diluted earnings per share $0.62. The figures are the company's own, from the 10-K it filed with the SEC on 12 February 2026.

Revenue

$4.2 billion

+20.4% on the year · +2.8% on the quarter

Q1 FY2024Q4 FY2025

Operating margin

15.9%

11.2% a year earlier

Q1 FY2024Q4 FY2025

Net income

$540 million

+74.2% on the year · +25.6% on the quarter

Q1 FY2024Q4 FY2025

Diluted EPS

$0.62

+72.2% on the year · +24.0% on the quarter

Q1 FY2024Q4 FY2025

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 3 raised, 2 new.

Q4 core sales grew 14%: Q4 core sales were $4.41 billion, up 14% year over year. GAAP sales were $4.22 billion. Core EPS was $0.72, up 26%, and GAAP EPS was $0.62.
Full-year core EPS rose 29%: Full-year core sales were $16.41 billion, up 13%. Full-year core EPS was $2.52, up 29%. GAAP diluted EPS for the year was $1.83.
Optical Communications sales grew 24%: Optical Communications net sales were $1,701 million in Q4, up 24% year over year and 3% from Q3. Full-year net sales were $6,274 million, up 35%.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q4 FY2025	Q3 FY2025	Q4 FY2024	On the quarter	On the year
Revenue	4,215	4,100	3,501	+2.8%	+20.4%
Cost of revenue	2,720	2,580	2,304	+5.4%	+18.1%
Gross profit	1,495	1,520	1,197	-1.6%	+24.9%
Gross margin	35.5%	37.1%	34.2%
Selling, general and administrative	512	624	499	-17.9%	+2.6%
Operating income	672	589	393	+14.1%	+71.0%
Operating margin	15.9%	14.4%	11.2%
Interest expense	93.0	78.0	79.0	+19.2%	+17.7%
Pre-tax income	678	550	437	+23.3%	+55.1%
Income tax	91.0	80.0	97.0	+13.8%	-6.2%
Effective tax rate	13.4%	14.5%	22.2%
Net income	540	430	310	+25.6%	+74.2%
Net margin	12.8%	10.5%	8.9%
Diluted EPS	$0.62	$0.50	$0.36	+24.0%	+72.2%

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q4 FY2025	Q3 FY2025	Q4 FY2024	On the quarter	On the year
Operating cash flow	1,052	784	623	+34.2%	+68.9%
Capital expenditure	432	334	254	+29.3%	+70.1%
Free cash flow	620	450	369	+37.8%	+68.0%
Free cash flow margin	14.7%	11.0%	10.5%
Cash from investing	-478	-299	-207
Cash from financing	-652	-324	-220
Depreciation and amortisation	351	337	335	+4.2%	+4.8%
Share-based compensation	70.0	99.0	71.0	-29.3%	-1.4%
Buybacks	5.0	25.0	n/a	-80.0%
Dividends paid	255	241	249	+5.8%	+2.4%
Diluted shares, weighted	871m	868m	869m	+0.3%	+0.2%
Shares outstanding at period end	858m	857m	857m	+0.1%	+0.2%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q4 FY2025	Q3 FY2025	Q4 FY2024	On the quarter	On the year
Shareholders' equity	11,807	11,536	10,686	+2.3%	+10.5%
Non-controlling interest	500	469	384	+6.6%	+30.2%
Debt	8,434	8,219	7,211	+2.6%	+17.0%
Operating lease liabilities	846	874	785	-3.2%	+7.8%
Finance lease liabilities	1,148	n/a	144		+697.2%
Other liabilities	8,241	8,818	8,525	-6.5%	-3.3%
Total liabilities and equity	30,976	29,916	27,735	+3.5%	+11.7%
Fixed assets	14,825	14,397	13,359	+3.0%	+11.0%
Goodwill	2,489	2,489	2,363	0.0%	+5.3%
Intangible assets	657	684	752	-3.9%	-12.6%
Cash and equivalents	1,526	1,648	1,768	-7.4%	-13.7%
Receivables	2,779	2,509	2,053	+10.8%	+35.4%
Inventory	3,077	3,104	2,724	-0.9%	+13.0%
Other assets	5,623	5,085	4,716	+10.6%	+19.2%
Total assets	30,976	29,916	27,735	+3.5%	+11.7%

Questions

What was Corning's revenue in Q4 FY2025?

Corning (GLW) reported revenue of $4.2 billion for Q4 FY2025, the quarter ended 31 December 2025, up 20.4% on the same quarter a year earlier.

How much did Corning earn in Q4 FY2025?

Net income for Q4 FY2025 was $540 million, up 74.2% on the year, and diluted earnings per share $0.62.

When did Corning report Q4 FY2025 results?

Corning filed its 10-K for the year that ended with the quarter on 12 February 2026; the fourth quarter is the year less the first three.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022 †	Q2 FY2022	Q3 FY2022	Q4 FY2022 * †	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	3,676	3,680	3,615	3,488	3,406	3,178	3,243	3,173	2,994	2,975	3,251	3,391	3,501	3,452	3,862	4,100	4,215	4,144	4,505	4,855
Cost of revenue	2,405	2,397	2,369	2,426	2,491	2,175	2,230	2,169	2,083	1,982	2,302	2,254	2,304	2,238	2,470	2,580	2,720	2,616	2,877	3,045
Gross profit	1,271	1,283	1,246	1,062	915	1,003	1,013	1,004	911	993	949	1,137	1,197	1,214	1,392	1,520	1,495	1,528	1,628	1,810
Gross margin	35%	35%	34%	30%	27%	32%	31%	32%	30%	33%	29%	34%	34%	35%	36%	37%	35%	37%	36%	37%
SG&A	476	434	486	461	517	421	440	468	514	451	471	510	499	471	515	624	512	588	608	563
Operating income	483	570	490	292	86.0	297	279	236	78.0	254	186	302	393	445	573	589	672	639	698	911
Operating margin	13%	15%	14%	8%	3%	9%	9%	7%	3%	9%	6%	9%	11%	13%	15%	14%	16%	15%	15%	19%
Interest expense	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	83.0	84.0	83.0	79.0	82.0	83.0	78.0	93.0	92.0	94.0	87.0
Pre-tax income	576	783	750	260	4.0	228	409	217	-38.0	296	172	-92.0	437	240	584	550	678	529	649	968
Tax rate	15%	23%	22%	13%	775%	16%	26%	16%	n/a	24%	29%	n/a	22%	23%	14%	15%	13%	23%	6%	23%
Net income	487	581	563	208	-36.0	176	281	164	-40.0	209	104	-117	310	157	469	430	540	371	559	680
Net margin	13%	16%	16%	6%	-1%	6%	9%	5%	-1%	7%	3%	-3%	9%	5%	12%	10%	13%	9%	12%	14%
Diluted EPS	$0.60	$0.68	$0.66	$0.24	-$0.04	$0.20	$0.33	$0.19	-$0.05	$0.24	$0.12	-$0.14	$0.36	$0.18	$0.54	$0.50	$0.62	$0.43	$0.64	$0.78
Operating cash flow	1,023	534	758	706	617	-49.0	619	722	713	96.0	521	699	623	151	708	784	1,052	362	1,717	1,061
Capital expenditure	623	383	353	465	403	382	388	341	279	252	242	217	254	208	308	334	432	332	422	545
Free cash flow	400	151	405	241	214	-431	231	381	434	-156	279	482	369	-57.0	400	450	620	30.0	1,295	516
Buybacks	n/a	149	52.0	20.0	0.0	n/a	n/a	n/a	n/a	n/a	n/a	30.0	n/a	100	33.0	25.0	5.0	n/a	n/a	n/a
Dividends paid	212	228	234	234	236	239	256	246	248	243	252	242	249	242	261	241	255	244	251	262
Shares outstanding	846m	845m	845m	846m	847m	850m	853m	853m	853m	857m	856m	856m	857m	856m	857m	857m	858m	861m	861m	861m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-K for the period ended 31 December 2025, filed 12 February 2026: the filing.