January 30, 2018 / 12:25 PM / 8 months ago

Corning's quarterly revenue rises 6.5 pct

Jan 30 (Reuters) - Corning Inc reported a 6.5 percent rise in fourth-quarter revenue on Tuesday, driven by strong demand for its Gorilla Glass used in smartphones and fibre optic products.

However, Corning incurred a net loss of $1.41 billion, or $1.66 per share, in the quarter ended Dec 31, compared with a profit of $1.57 billion, or $1.47 per share, a year earlier.

The company took a $1.8 billion one-time charge related to changes in the U.S. tax law in the quarter.

Net sales rose to $2.64 billion from $2.48 billion. (Reporting by Sonam Rai in Bengaluru; Editing by Arun Koyyur)

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