EVERETT, Wash. (AP) _ Fortive Corp. (FTV) on Tuesday reported second-quarter profit of $130 million.

On a per-share basis, the Everett, Washington-based company said it had net income of 33 cents. Earnings, adjusted for amortization costs and non-recurring costs, came to 68 cents per share.

The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 58 cents per share.

The industrial conglomerate posted revenue of $1.57 billion in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $1.53 billion.

Fortive shares have decreased 7% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $71.03, a drop of 7.5% 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 FTV at https://www.zacks.com/ap/FTV

© 2020 The Canadian Press. All rights reserved., source Canadian Press DataFile