United Technologies Profit Falls, Company Reveals $12B Buyback Plan


United Technologies (NYSE:UTX) on Tuesday posted a decline in quarterly profit, hurt by foreign currency swings, and announced plans to buy back $12 billion worth of its shares.

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The aerospace and building systems conglomerate said third-quarter net income fell to $1.36 billion from $1.85 billion a year ago.

Earnings from continuing operations declined to $1.61 per share from $1.93 per share a year ago.

(Reporting by Lewis Krauskopf In New York; Editing by Chizu Nomiyama)

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