TE Connectivity (TEL) Q3 Earnings Top Estimates, Sales Fall Y/Y

GAAP operating margin expanded 320 bps year over year to 19%. Adjusted operating margin expanded 200 bps year over year to 19.3% in the reported quarter. Arista Networks' shares have gained 45.4% year to date. ANET is set to report its second-quarter 2024 results on Jul 30. TEL's initiatives to exit lower-margin and lower-growth products negatively impacted sensor sales, along with weakness in industrial markets. Adjusted earnings are projected at $1.94 per share, indicating growth of 9% year over year. The ...