GALWAY, Ireland (AP) — GALWAY, Ireland (AP) — TE Connectivity Ltd. (TEL) on Wednesday reported fiscal first-quarter profit of $528 million.
The Galway, Ireland-based company said it had net income of $1.75 per share. Earnings, adjusted for restructuring costs and pretax expenses, were $1.95 per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.89 per share.
The electronics maker posted revenue of $3.84 billion in the period, falling short of Street forecasts. Five analysts surveyed by Zacks expected $3.91 billion.
For the current quarter ending in March, TE Connectivity expects its per-share earnings to be $1.96.
The company said it expects revenue in the range of $3.95 billion for the fiscal second 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
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