FARMINGTON, Conn. (AP) — FARMINGTON, Conn. (AP) — Otis Worldwide Corporation (OTIS) on Wednesday reported fourth-quarter net income of $337 million.
On a per-share basis, the Farmington, Connecticut-based company said it had profit of 84 cents. Earnings, adjusted for restructuring costs and non-recurring costs, came to 93 cents per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 95 cents per share.
The company posted revenue of $3.68 billion in the period, which beat Street forecasts. Three analysts surveyed by Zacks expected $3.65 billion.
For the year, the company reported profit of $1.65 billion, or $4.07 per share. Revenue was reported as $14.26 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on OTIS at https://www.zacks.com/ap/OTIS
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