Employees hold a plate with components at TE Connectivity in Woerth, Germany, February 16, 2022. Picture taken February 16, 2022. REUTERS/Lukas Barth/ File photoTE Connectivity beat Wall Street estimates for second-quarter profit on Wednesday, helped by strong demand for its sensor technology from electric vehicle makers across the globe.
The company posted total net sales of $3.97 billion for the quarter, which was slightly above the analysts' estimates of $3.95 billion. It reported an adjusted profit of $1.86 per share for the quarter ended March 29, ahead of Wall Street estimates of $1.83 per share.
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