BRUSSELS (dpa-AFX) - TE Connectivity Ltd. (TEL) released a profit for third quarter that decreased from last year but beat the Street estimates.
The company's earnings totaled $528 million, or $1.67 per share. This compares with $594 million, or $1.83 per share, in last year's third quarter.
Excluding items, TE Connectivity Ltd. reported adjusted earnings of $561 million or $1.77 per share for the period.
Analysts on average had expected the company to earn $1.66 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 2.4% to $4.00 billion from $4.10 billion last year.
TE Connectivity Ltd. earnings at a glance (GAAP) :
-Earnings (Q3): $528 Mln. vs. $594 Mln. last year. -EPS (Q3): $1.67 vs. $1.83 last year. -Analyst Estimates: $1.66 -Revenue (Q3): $4.00 Bln vs. $4.10 Bln last year.
-Guidance: Next quarter EPS guidance: $1.75 Next quarter revenue guidance: $4 Bln
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