TE Connectivity: Fiscal Q1 Earnings Snapshot

SCHAFFHAUSEN, Switzerland (AP) — SCHAFFHAUSEN, Switzerland (AP) — TE Connectivity Ltd. (TEL) on Wednesday reported fiscal first-quarter earnings of $1.8 billion.

On a per-share basis, the Schaffhausen, Switzerland-based company said it had net income of $5.76. Earnings, adjusted for one-time gains and costs, came to $1.84 per share.

The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.72 per share.

The electronics maker posted revenue of $3.83 billion in the period, missing Street forecasts. Five analysts surveyed by Zacks expected $3.89 billion.

For the current quarter ending in March, TE Connectivity expects its per-share earnings to be $1.82.

The company said it expects revenue in the range of $3.95 billion for the fiscal second quarter.

_____

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