ROCHESTER, New York (AP) — Specialty glass maker Corning Inc. said Wednesday its first-quarter profit fell 8 percent, largely because of a higher tax rate. But its revenue surged 24 percent on robust sales of glass for flat-screen televisions, computers and mobile devices.
The results beat Wall Street expectations. Its shares rose 3 percent in morning trading.
The world's largest maker of liquid-crystal-display glass said its net income fell to $748 million, or 47 cents per share, in the January-March period, down from $816 million, or 52 cents per share, a year ago.
The company attributed the decline mainly to an increase in its tax rate to 13 percent from 3 percent …
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