SCHAFFHAUSEN, Switzerland (AP) — SCHAFFHAUSEN, Switzerland (AP) — TE Connectivity Ltd. (TEL) on Wednesday reported fiscal third-quarter profit of $573 million.
The Schaffhausen, Switzerland-based company said it had net income of $1.86 per share. Earnings, adjusted for restructuring costs and costs related to mergers and acquisitions, were $1.91 per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.86 per share.
The electronics maker posted revenue of $3.98 billion in the period, falling short of Street forecasts. Six analysts surveyed by Zacks expected $4 billion.
For the current quarter ending in September, TE Connectivity expects its per-share earnings to be $1.94.
The company said it expects revenue in the range of $4 billion for the fiscal fourth quarter.
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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 TEL at https://www.zacks.com/ap/TEL
