FARMINGTON, Conn. (AP) — FARMINGTON, Conn. (AP) — Otis Worldwide Corporation (OTIS) on Wednesday reported first-quarter profit of $243 million.
The Farmington, Connecticut-based company said it had profit of 61 cents per share. Earnings, adjusted for one-time gains and costs, were 92 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 91 cents per share.
The company posted revenue of $3.35 billion in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $3.41 billion.
Otis Worldwide expects full-year earnings in the range of $4 to $4.10 per share, with revenue in the range of $14.6 billion to $14.8 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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