By Kelly Cloonan
Shares of TE Connectivity climbed after the company reported better-than-expected fiscal second-quarter results, driven by improved margins.
The stock rose 3.9% to $138.60 on Wednesday. Shares have declined 3.2% over the past 12 months.
The Ireland-based electrical-components supplier posted a profit of $13 million, or 4 cents a share, for the three months ended March 28, compared with $541 million, or $1.75 a share, a year earlier.
The company had previously guided for a loss of 5 cents a share.
Adjusted earnings per share were $2.10, above the company's previous guidance for $1.96 per share. Analysts polled by FactSet expected $1.96.
Revenue rose 4% to $4.14 billion, ahead of analyst forecasts of $3.97 billion. The figure also beat the company's previous guidance of $3.95 billion.
The company reported an operating margin of 18%, led by higher margins in its industrial-solutions segment.
Chief Executive Terrence Curtin attributed the expanded margins to broad business growth and ongoing momentum in artificial intelligence, aerospace and energy applications in its industrial segment.
Write to Kelly Cloonan at kelly.cloonan@wsj.com
(END) Dow Jones Newswires
April 23, 2025 11:13 ET (15:13 GMT)
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