Business

Swiss Schindler’s quarterly profit drop beats estimates

FILE PHOTO: The brand of Swiss elevator maker Schindler is seen throughout the annual information convention in Zurich, Switzerland February 14, 2020. REUTERS/Arnd Wiegmann

(Reuters) – Swiss elevator and escalator maker Schindler reported on Friday a drop in first-quarter internet revenue, however beat the corporate’s consensus forecast, regardless of provide chain woes, price inflation, lockdowns and market contraction in China.

Internet revenue of 144 million Swiss francs ($151.07 million) was under the year-earlier determine of 213 million, however beat the forecast of 137.4 million francs made by analysts in a company-compiled consensus.

Reporting by Ana Cantero and Alexander Kloss; Modifying by Clarence Fernandez

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