United Technologies beats 2Q net income expectations, misses revenue forecasts

IndustriesAssociated Press

United Technologies Corp. (UTX) on Tuesday reported second-quarter net income of $1.54 billion.

The Hartford, Connecticut-based company said it had profit of $1.73 per share. Earnings, adjusted for one-time gains and costs, came to $1.81 per share.

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The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.71 per share.

The maker of elevators, helicopters, jet engines and other products posted revenue of $16.33 billion in the period, which did not meet Street forecasts. Six analysts surveyed by Zacks expected $16.66 billion.

United Technologies expects full-year earnings to be $6.15 to $6.30 per share.

United Technologies shares have decreased nearly 4 percent since the beginning of the year, while the Standard & Poor's 500 index has increased slightly more than 3 percent. The stock has dropped almost 6 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on UTX at http://www.zacks.com/ap/UTX

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Keywords: United Technologies, Earnings Report