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United Tech 2Q profit rises 19 percent on rising building climate systems, weaker dollar
HARTFORD, Conn. (AP) ' United Technologies Corp. says its second-quarter profit soared 19 percent due to strong orders for its heating and cooling building systems and a weaker dollar boosting exports.
It beat Wall Street estimates and raised its outlook for the year.
Its shares rose more than 2 percent to $91.20 in premarket trading.
The Hartford company behind Carrier heating and cooling, Otis elevator, jet engine manufacturer Pratt & Whitney and other businesses said Wednesday that net income rose to $1.32 billion, or $1.45 per share, for the April-June quarter.
Revenue rose 9 percent to $15.08 billion. Orders rose at Otis, Pratt & Whitney and aerospace parts maker Hamilton Sundstrand.
Analysts expected earnings of $1.41 a share on revenue of $14.61 billion
United Technologies raised its 2011 outlook to between $5.35 per share and $5.45, up from $5.25 to $5.40.