Otis Worldwide: Q1 Earnings Snapshot

FARMINGTON, Conn. (AP) — FARMINGTON, Conn. (AP) — Otis Worldwide Corporation (OTIS) on Wednesday reported first-quarter net income of $353 million.

On a per-share basis, the Farmington, Connecticut-based company said it had net income of 86 cents. Earnings, adjusted for one-time gains and costs, were 88 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 87 cents per share.

The company posted revenue of $3.44 billion in the period.

Otis Worldwide expects full-year earnings in the range of $3.83 to $3.90 per share, with revenue in the range of $14.5 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