SCHAFFHAUSEN, Switzerland (AP) _ TE Connectivity Ltd. (TEL) on Wednesday reported fiscal first-quarter net income of $566 million.
The Schaffhausen, Switzerland-based company said it had profit of $1.72 per share. Earnings, adjusted for one-time gains and costs, were $1.76 per share.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.62 per share.
The electronics maker posted revenue of $3.82 billion in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $3.73 billion.
For the current quarter ending in April, TE Connectivity expects its per-share earnings to be $1.70.
The company said it expects revenue in the range of $3.8 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
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