United Technologies Corp reported a 13.7 percent rise in quarterly profit and raised its full-year earnings forecast, saying demand had improved and that the diversified U.S. manufacturer had boosted margins.
The world's biggest maker of elevators and air conditioners said on Wednesday that second-quarter net income attributable to common shareholders came to $1.11 billion, or $1.20 per diluted share, compared with $976 million, or $1.05 per share, a year earlier.
Revenue rose 5.3 percent to $13.89 billion.
The company boosted its full-year earnings forecast to $4.60 to $4.70 per share, up from a prior range of $4.50 to
United Tech shares have fallen about 4 percent so far this year, compared with a 3 percent slide for the Dow Jones industrial average <.DJI>.
(Reporting by Scott Malone; Editing by Lisa Von Ahn)