Sumitomo Electric Industries (OTCMKTS:SMTOY) Posts Earnings Results, Beats Expectations By $0.11 EPS

Sumitomo Electric Industries (OTCMKTS:SMTOY) announced its quarterly earnings results on Tuesday. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.11, reports. The company had revenue of $8.44 billion for the quarter, compared to the consensus estimate of $7.87 billion.

Sumitomo Electric Industries Stock Up 6.6%

OTCMKTS SMTOY opened at $47.82 on Wednesday. The firm’s fifty day moving average price is $42.13 and its two-hundred day moving average price is $34.28. Sumitomo Electric Industries has a fifty-two week low of $12.12 and a fifty-two week high of $49.30.

Sumitomo Electric Industries Company Profile

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.