TE Connectivity: Fiscal 3Q Earnings Snapshot
SCHAFFHAUSEN, Switzerland (AP) _ TE Connectivity Ltd. (TEL) on Wednesday reported fiscal third-quarter earnings of $757 million.
The Schaffhausen, Switzerland-based company said it had net income of $2.23 per share. Earnings, adjusted for one-time gains and costs, were $1.50 per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.42 per share.
The electronics maker posted revenue of $3.39 billion in the period, which fell short of Street forecasts. Five analysts surveyed by Zacks expected $3.42 billion.
For the current quarter ending in September, TE Connectivity expects its per-share earnings to range from $1.27 to $1.33.
The company said it expects revenue in the range of $3.2 billion to $3.3 billion for the fiscal fourth quarter.
TE Connectivity expects full-year earnings in the range of $5.47 to $5.53 per share, with revenue ranging from $13.35 billion to $13.45 billion.
TE Connectivity shares have increased 21% since the beginning of the year, while the Standard & Poor’s 500 index has risen 20%. The stock has declined 0.5% in the last 12 months.