Earnings per share are now expected to grow 12% to 14% over 2009 on revenue of $54 billion. Analysts, on average, expect earnings of $4.66 a share on revenue of $54.3 billion for the year. United Technologies reported second-quarter earnings of $1.20 a share and net income of $1.1 billion, both up 14% over the year-ago second quarter. The earnings include a net charge of 12 cents a share for restructuring and one-time items. Revenue for the quarter was $13.9 billion, up 5% above the prior year. The Wall Street consensus estimate for the company's second quarter was earnings of $1.16 a share on revenue of $13.56 billion. >>Search for Highest Dividends by Rate or Yield The company said that its cost reduction actions helped drive its second-quarter earnings.
NEW YORK ( TheStreet) -- United Technologies ( UTX) increased its full-year earnings guidance to $4.60 to $4.70 a share from $4.50 to $4.65 after reporting both earnings and revenue increases for the second quarter.
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