Corning beats quarterly sales estimates, signals improving demand for fiber optics

Specialty glass maker Corning beat Wall Street estimates for fourth-quarter adjusted sales on Tuesday and said it was seeing increasing demand for its optical fiber cables used in data centers that process more generative artificial intelligence applications.

Shares of Corning, whose Gorilla Glass is used in smartphones by the likes of Samsung and Apple , rose nearly 7%.

Quarterly sales in the optical communications segment fell just 2% from the previous quarter as demand for fiber optic cables improved.