1; Overall financial performance; core indicators exceeded expectations, and profits and cash flow expanded strongly; Corning's second-quarter performance exceeded market expectations
1. Overall financial performance: core indicators exceeded expectations, and profits and cash flow expanded strongly. Corning's second-quarter performance exceeded market expectations. Core sales reached US$4.74 billion, a year-on-year increase of 17%; core earnings per share (EPS) reached US$0.78, a year-on-year increase of 30%. Benefiting from the increased proportion of high-gross profit businesses and operating leverage effects, core gross profit margin expanded by 120 basis points year-on-year to 39.6%, and core operating profit margin increased by 190 basis points to 20.9%. Cash flow also improved significantly, generating operating cash flow of US$1.72 billion in a single quarter, and adjusted free cash flow (FCF) reaching US$1.42 billion.