AP NEWS

Harris: 3Q Earnings Snapshot

October 30, 2019 GMT

MELBOURNE, Fla. (AP) _ Harris Corp. (LHX) on Wednesday reported third-quarter earnings of $429 million.

On a per-share basis, the Melbourne, Florida-based company said it had net income of $1.90. Earnings, adjusted for one-time gains and costs, were $2.58 per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.39 per share.

The technology and communications company posted revenue of $4.43 billion in the period, missing Street forecasts. Five analysts surveyed by Zacks expected $4.45 billion.

Harris expects full-year earnings to be $10 per share, with revenue expected to be $18.1 billion.

Harris shares have climbed 51% since the beginning of the year. The stock has risen 38% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LHX at https://www.zacks.com/ap/LHX