TE Connectivity Swings to 2Q Profit
April 21 2021 - 6:41AM
Dow Jones News
By Dave Sebastian
TE Connectivity Ltd. turned a profit for its fiscal second
quarter as it said it benefited from a recovering economic
backdrop, beating Wall Street estimates.
The Swiss company, which makes connectivity and sensor
equipment, on Wednesday posted net income of $506 million, compared
with a loss of $456 million in the year-earlier period. It reported
earnings of $1.51 a share, compared with a loss of $1.37 a share in
the same period last year.
Adjusted earnings were $1.57 a share. Analysts polled by FactSet
were expecting $1.48 a share.
For the quarter ended March 26, net sales were $3.74 billion, up
from $3.2 billion in the year-earlier period. Analysts were looking
for $3.52 billion.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
April 21, 2021 06:26 ET (10:26 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
TE Connectivity (NYSE:TEL)
Historical Stock Chart
From Mar 2024 to Apr 2024
TE Connectivity (NYSE:TEL)
Historical Stock Chart
From Apr 2023 to Apr 2024