Corning Incorporated stock research
FY2024 Q4
Corning (GLW) Gross Margin — Quarter Ended Dec 31, 2024
Revenue increased while cost of revenue rose at a slower pace, leading to higher gross profit and an improved gross margin. Compared to the prior quarter and the same quarter last year, gross margin strengthened.
Gross margin takeaway
Quarter ended Dec 31, 2024 · FY2024 Q4
Revenue increased while cost of revenue rose at a slower pace, leading to higher gross profit and an improved gross margin. Compared to the prior quarter and the same quarter last year, gross margin strengthened.
- The strongest observable margin driver is the gross margin improvement from the prior quarter and year-ago quarter, supported by revenue growth outpacing cost of revenue increases.
- Compared to the immediately preceding quarter, revenue and gross profit were higher, cost of revenue was stable, and gross margin improved. Compared to the same quarter one year earlier, revenue, gross profit, and gross margin were all higher, while cost of revenue was higher.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
34.2%
Gross profit
$1.2B
Revenue
$3.5B
Cost of revenue
$2.3B
Quarter-over-quarter change
+0.7 pts
Year-over-year change
+3.8 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Mar 31, 2024 | $3.0B | $993.0M | $2.0B | 33.4% |
| Jun 30, 2024 | $3.3B | $949.0M | $2.3B | 29.2% |
| Sep 30, 2024 | $3.4B | $1.1B | $2.3B | 33.5% |
| Dec 31, 2024 | $3.5B | $1.2B | $2.3B | 34.2% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Sep 30, 2024
+0.7 pts
Year-over-year change
Dec 31, 2023
+3.8 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable margin driver is the gross margin improvement from the prior quarter and year-ago quarter, supported by revenue growth outpacing cost of revenue increases.
Compared to the immediately preceding quarter, revenue and gross profit were higher, cost of revenue was stable, and gross margin improved. Compared to the same quarter one year earlier, revenue, gross profit, and gross margin were all higher, while cost of revenue was higher.
Monitor the trend in cost of revenue relative to revenue to see if the current margin improvement can be sustained.