TE Connectivity Ltd. Reports 12% Drop In Q2 Bottom Line

(RTTNews) - TE Connectivity Ltd. (TEL) reported earnings for second quarter that declined compared to the same period last year.

The company said its earnings fell to $331 million, or $0.90 per share. This was lower than $376 million, or $0.91 per share, in last year's second quarter.

Analysts had expected the company to earn $0.89 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 4.2% to $2.95 billion. This was down from $3.08 billion last year.

TE Connectivity Ltd. earnings at a glance:

-Earnings (Q2): $331 Mln. vs. $376 Mln. last year. -Earnings Decline (Y-o-Y): -12.0% -EPS (Q2): $0.90 vs. $0.91 last year. -EPS Decline (Y-o-Y): -1.1% -Analysts Estimate: $0.89 -Revenue (Q2): $2.95 Bln vs. $3.08 Bln last year. -Revenue Change (Y-o-Y): -4.2%

-Guidance: Next quarter EPS guidance: $1.00 - $1.06 Next quarter revenue guidance: $3.0 - $3.2 Bln Full year EPS guidance: $3.90 - $4.10 Full year revenue guidance: $12.1 - $12.5 Bln