Corning Incorporated stock research
FY2025 Q3
Corning (GLW) Gross Margin — Quarter Ended Sep 30, 2025
Revenue and gross profit both increased compared with the prior quarter and the same quarter last year, while cost of revenue also rose. Gross margin improved from both the preceding quarter and the year-ago period.
Gross margin takeaway
Quarter ended Sep 30, 2025 · FY2025 Q3
Revenue and gross profit both increased compared with the prior quarter and the same quarter last year, while cost of revenue also rose. Gross margin improved from both the preceding quarter and the year-ago period.
- The strongest observable margin driver is revenue growing at a faster pace than cost of revenue, leading to a higher gross margin.
- Compared with the immediately preceding quarter, revenue, gross profit, and gross margin were all higher. Versus the same quarter one year earlier, all three metrics were also higher, with the margin improvement more pronounced.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
37.1%
Gross profit
$1.5B
Revenue
$4.1B
Cost of revenue
$2.6B
Quarter-over-quarter change
+1.0 pts
Year-over-year change
+3.5 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 |
|---|---|---|---|---|
| Dec 31, 2024 | $3.5B | $1.2B | $2.3B | 34.2% |
| Mar 31, 2025 | $3.5B | $1.2B | $2.2B | 35.2% |
| Jun 30, 2025 | $3.9B | $1.4B | $2.5B | 36.0% |
| Sep 30, 2025 | $4.1B | $1.5B | $2.6B | 37.1% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Jun 30, 2025
+1.0 pts
Year-over-year change
Sep 30, 2024
+3.5 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable margin driver is revenue growing at a faster pace than cost of revenue, leading to a higher gross margin.
Compared with the immediately preceding quarter, revenue, gross profit, and gross margin were all higher. Versus the same quarter one year earlier, all three metrics were also higher, with the margin improvement more pronounced.
Monitor the ratio of cost of revenue to revenue in upcoming quarters to assess if the improvement in gross margin can be sustained.