Otis Worldwide Corp Q3 Profit Increases, But Misses Estimates

(RTTNews) - Otis Worldwide Corp (OTIS) revealed a profit for its third quarter that increased from last year but missed the Street estimates.

The company's earnings totaled $540 million, or $1.34 per share. This compares with $376 million, or $0.91 per share, in last year's third quarter.

Excluding items, Otis Worldwide Corp reported adjusted earnings of $385 million or $0.96 per share for the period.

Analysts on average had expected the company to earn $0.97 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 0.7% to $3.548 billion from $3.523 billion last year.

Otis Worldwide Corp earnings at a glance (GAAP) :

-Earnings (Q3): $540 Mln. vs. $376 Mln. last year. -EPS (Q3): $1.34 vs. $0.91 last year. -Revenue (Q3): $3.548 Bln vs. $3.523 Bln last year.