Tyco Intl profit from continuing operations rises
NEW YORK, July 31 |
NEW YORK, July 31 (Reuters) - Tyco International Ltd (TYC.N) reported higher quarterly profit from continuing operations on Thursday as each of its five divisions posted double-digit increases in operating income, and the company raised its full-year forecast.
Earnings from continuing operations before special items rose 69 percent to $429 million, or 88 cents per share, from $254 million, or 51 cents per share, a year earlier.
Analysts on average expected profit of 67 cents per share, according to Reuters Estimates.
Revenue rose 11 percent to $5.22 billion, compared with Wall Street forecasts of $5.15 billion. (Reporting by Nick Zieminski; Editing by Lisa Von Ahn)
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