United Technologies Corp posted an 8 percent increase in quarterly profit, topping estimates, as sales of its elevators and aircraft parts helped offset a sluggish performance in its Pratt Whitney engine business. The maker of Sikorsky helicopters and Otis elevators said second-quarter net income rose to $1.68 billion, or $1.84 per share, from $1.56 billion, or $1.71 per share, a year earlier. Analysts on average were looking for $1.71 per share, according to Thomson Reuters I/B/E/S. Revenue rose 7 percent to $17.19 billion. United Tech posted organic revenue growth of 3 percent, which excludes sales from a helicopter agreement with Canada and net divestitures.
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