Corning posts higher 2Q net income as sales climb

ROCHESTER, N.Y. (AP) - Corning says its net income soared in the second quarter thanks to strong sales of its glass for flat-panel televisions and mobile devices.

The world's biggest maker liquid-crystal-display glass said Wednesday it earned $913 million, or 58 cents per share in the April-June period. This is up 49 percent from a profit of $611 million, or 39 cents per share, a year earlier.

Corning says revenue climbed 23 percent to $1.71 billion from $1.4 billion.

The results surpassed Wall Street's expectations. Analysts polled by Thomson Reuters had expected Corning to earn 52 cents per share on revenue of $1.65 billion.

The company says all of its segments performed well. Sales in its telecommunications segment were much higher than expected.