Fortive Corporation (FTV) recently posted a notable increase in profits for its fourth quarter, which surpassed market expectations. Their net profit came in at $265.2 million or $0.75 per share, up from $227.2 million or $0.64 per share in the previous year's fourth quarter.
When excluding particular factors, the adjusted earnings for Fortive Corporation were reported at $348.7 million or $0.98 per share for the same period. Wall Street experts had predicted the company would average earnings of $0.94 per share, as collated by Thomson Reuters, but these estimates generally omit extraordinary items.
Moreover, Fortive saw their quarterly revenue climb by 3.3% to $1.58 billion, a leap from $1.53 billion for the same period in the preceding year.
Looking at earnings in the fourth quarter under Generally Accepted Accounting Principles (GAAP), Fortive made $265.2 million, compared to $227.2 million in the previous year. The earnings per share reached $0.75, an increase from last year's $0.64 per share. In contrast, the analysts' estimate came in at $0.94. Revenue for the fourth quarter was revealed to be $1.58 billion, a climb from $1.53 billion the previous year.
