Corning Optical Comms Sales Up Amid 5G: Executives
Corning's quarterly optical communications sales of $937 million rose 18% from the year-ago period. “Sales were up in both enterprise and carrier networks, driven by the accelerated pace of data center builds and increased capital spending on network capacity expansion…
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and fiber-to-the-home projects,” Chief Financial Officer Tony Tripeny told investors Tuesday. Profit in the sector of $111 million, up 283%, was driven by “incremental volume” increases and “strong cost performance,” he said. (See Q1 materials here.) It was the optical sector’s second straight quarter of profitability, and he said he's "confident" the trend will continue: “There are some extremely encouraging announcements coming from leading network operators, as well as governments around the world, that point to the start of a strong investment phase.” Fiber technology is penetrating wireless with 5G network deployments, said CEO Wendell Weeks. 3G and 4G transitions “historically” were “fiber-poor,” he said. “With 5G, those cells need to be so much closer to the consumer,” requiring more “densification,” he said. “That’s driving a lot more glass into the wireless network.” Whichever network wins the 5G race, it will be "glass-rich," said the CEO.