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TE Connectivity: Fiscal 2Q Earnings Snapshot

SCHAFFHAUSEN, Switzerland (AP) _ TE Connectivity Ltd. (TEL) on Wednesday reported fiscal second-quarter profit of $439 million.

On a per-share basis, the Schaffhausen, Switzerland-based company said it had profit of $1.29. Earnings, adjusted for one-time gains and costs, were $1.42 per share.

The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.27 per share.

The electronics maker posted revenue of $3.41 billion in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $3.36 billion.

For the current quarter ending in July, TE Connectivity expects its per-share earnings to range from $1.41 to $1.45.

The company said it expects revenue in the range of $3.4 billion to $3.5 billion for the fiscal third quarter.

TE Connectivity expects full-year earnings in the range of $5.55 to $5.65 per share, with revenue ranging from $13.55 billion to $13.75 billion.

TE Connectivity shares have increased 19 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 17 percent. The stock has decreased 10 percent in the last 12 months.


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