Sumitomo Electric Industries (OTCMKTS:SMTOY – Get Free Report) posted its earnings results on Tuesday. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.54 by $0.11, reports. The firm had revenue of $8.44 billion for the quarter, compared to the consensus estimate of $7.87 billion.
Sumitomo Electric Industries Stock Up 10.7%
Shares of OTCMKTS:SMTOY opened at $48.40 on Tuesday. The company has a 50 day moving average of $41.96 and a 200 day moving average of $34.10. Sumitomo Electric Industries has a 12 month low of $12.12 and a 12 month high of $48.40.
About Sumitomo Electric Industries
Sumitomo Electric Industries, Ltd. is a diversified Japanese industrial manufacturing company renowned for its expertise in electric wire and cable technologies. The company operates through multiple business segments, including power and communications systems, automotive and electronics materials, and industrial materials. Its product portfolio spans high-performance power cables, optical fibers, wiring harnesses, and various electronic components designed to serve the needs of energy utilities, telecommunications carriers, automotive manufacturers and industrial clients worldwide.
In the power and communications segment, Sumitomo Electric produces underground and submarine power cables, cable accessories and optical fiber cables for high-speed data transmission.
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