BRUSSELS (dpa-AFX) - TE Connectivity Ltd. (TEL) released earnings for first quarter that decreased from last year but beat the Street estimates.
The company's bottom line came in at $433 million, or $1.36 per share. This compares with $560 million, or $1.71 per share, in last year's first quarter.
Excluding items, TE Connectivity Ltd. reported adjusted earnings of $525 million or $1.65 per share for the period.
Analysts on average had expected the company to earn $1.58 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 3.7% to $4.16 billion from $4.01 billion last year.
TE Connectivity Ltd. earnings at a glance (GAAP) :
-Earnings (Q1): $433 Mln. vs. $560 Mln. last year. -EPS (Q1): $1.36 vs. $1.71 last year. -Analyst Estimates: $1.58 -Revenue (Q1): $4.16 Bln vs. $4.01 Bln last year.
Copyright(c) 2023 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX