July 25 (Reuters) - Specialty glass maker Corning (GLW.N) forecast third-quarter core sales below Wall Street estimates on Tuesday, as it grapples with the ongoing slump in the consumer electronics market.
Corning said it expects core sales of about $3.5 billion in the three months ending September, compared with analysts' estimates of $3.70 billion, according to data from Refinitiv.
Shares of Corning, whose Gorilla glass for smartphones is used by companies such as Apple (AAPL.O) and Samsung Electronics (005930.KS), were down nearly 1.5% before the bell.
"We expect to continue improving profitability and cash flow despite our relatively muted sales environment," said CEO Wendell Weeks.
Corning posted an adjusted profit of 45 cents per share, just short of the 46 cents estimated by analysts.
Persons:
Corning, Wendell Weeks, Jaspreet Singh, Krishna Chandra
Organizations:
Refinitiv, Apple, Samsung Electronics, Thomson
Locations:
Corning, Bengaluru