BRUSSELS (dpa-AFX) - TE Connectivity Ltd. (TEL) revealed a profit for first quarter that decreased from the same period last year but beat the Street estimates.
The company's earnings came in at $397 million, or $1.24 per share. This compares with $566 million, or $1.72 per share, in last year's first quarter.
Excluding items, TE Connectivity Ltd. reported adjusted earnings of $487 million or $1.53 per share for the period.
Analysts on average had expected the company to earn $1.51 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 0.5% to $3.84 billion from $3.82 billion last year.
TE Connectivity Ltd. earnings at a glance (GAAP) :
-Earnings (Q1): $397 Mln. vs. $566 Mln. last year. -EPS (Q1): $1.24 vs. $1.72 last year. -Analyst Estimates: $1.51 -Revenue (Q1): $3.84 Bln vs. $3.82 Bln last year.
-Guidance: Next quarter EPS guidance: $1.57 Next quarter revenue guidance: $3.9 Bln
Copyright(c) 2023 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX