Otis shares drop after revenue miss, flat growth in new equipment

8 hours ago 1
Hand finger press the Elevator button, woman waiting for Elevator in office or apartment

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Shares of Otis Worldwide (NYSE:OTIS) dropped 6.5% in premarket trading Wednesday after the elevator and escalator giant reported second-quarter results that fell short of Wall Street expectations, weighed down by continued weakness in its New Equipment business and flat total revenue.

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