United Technologies Q2 net income rises

HARTFORD: United Technologies says its second-quarter profit jumped nearly 14 percent as key housing and aerospace markets improved.

The parent company of jet engine manufacturer Pratt & Whitney, Otis elevators and Sikorsky Aircraft also raised its 2010 earnings guidance based on a strong performance in the first half of the year and improving order rates.

The Hartford, Connecticut company earned $1.11 billion, or $1.20 per share, in the period ended June 30, up from $976 million, or $1.05 per share, in the year-ago period.

Revenue rose to $13.89 billion from $13.2 billion a year ago. Analysts surveyed by Thomson Reuters expected United Technologies Corp. to report earnings of $1.16 per share on revenue of $13.56 billion.