Investing.com - U.S. multinational conglomerate United
Technologies reported better-than-expected fourth quarter earnings
ahead of Wednesday's opening bell, despite missing slightly on
Earlier in the day, in its fourth quarter earnings report, United
Technologies said earnings per share came in at USD1.58, beating
expectations for earnings of USD1.53 per share. The company's
fourth quarter revenue totaled USD16.8 billion, below expectations
for revenue of USD17.09 billion.
"UTC closed a strong 2013 with 16 percent earnings growth despite
slower than expected recovery in our end markets," said Louis
Chenevert, UTC Chairman&Chief Executive Officer.
"We saw an acceleration of organic growth throughout the year,"
added Chenevert. "Fourth quarter organic sales growth of 4 percent
combined with continued orders strength gives us good momentum as
we enter 2014."
Immediately after the earnings announcement,
shares rose 0.4% in trading prior to the opening bell.
Meanwhile, the outlook for U.S. equity markets was subdued. The Dow
Jones Industrial Average futures indicated a loss of 0.2% at the
open, S&P 500 futures pointed to a loss of 0.05%, while Nasdaq
100 futures were little changed ahead of the open.
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