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Delphi’s Second-Quarter Income Jumps 42%
Delphi Automotive plc reports its net income in the second quarter of 2017 surged to $386 million from $271 million a year earlier.
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Delphi Automotive plc reports its net income in the second quarter of 2017 surged to $386 million from $271 million a year earlier.
The 42% gain in profit was accompanied by a 3% increase to $4.3 billion in revenue. Adjusted operating income in April-June advanced 1% to $587 million.
The U.K.-based electronics supplier, which divested its mechatronics unit last autumn, expects to spin off its Powertrain Systems business by March 2018. Delphi says it is focusing on “relevant technologies” for such innovations as autonomous vehicles.
Delphi raised its full-year outlook, thanks to a 7% increase to $704 million in adjusted revenue and a 22% hike to $704 million in net income from continuing operations. Delphi now expects net sales as great at $17 billion and an adjusted operating income of $2.3 billion.
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