Takeaway: We expected a punch in the face, but this...

...is not so bad. The topline was strong almost across the board, and the outlook is above. We didn't get the kind of FCF bump up that we wanted as working capital headwinds from 1H reversed only modestly, but we will take this Q as a win for Longs and stay with it (and hope working cap shows up in 4Q/1Q). 

Corning reported $2700m in revenue and $0.43 in EPS versus Street at $2603mn revenue and $0.42. Guidance calls for ~$2650m revenue at the midpoint versus Street at $2600mn and $0.47. 

Trends from the quarter and guidance look like:

Very strong GG

Strong optical

Better than feared Display revenue and outlook

First blush read of this print is better than feared. 

More after the call