FARMINGTON, Conn. (AP) — FARMINGTON, Conn. (AP) — Otis Worldwide Corporation (OTIS) on Wednesday reported second-quarter profit of $428 million.
On a per-share basis, the Farmington, Connecticut-based company said it had net income of $1.12. Earnings, adjusted for one-time gains and costs, were $1.01 per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1 per share.
The company posted revenue of $3.86 billion in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $3.72 billion.
Otis Worldwide expects full-year earnings in the range of $4.01 to $4.05 per share, with revenue in the range of $15.1 billion to $15.3 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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