HARTFORD, Conn. (AP) — United Technologies Corp. reported Tuesday its first-quarter profit dropped 4 percent as slightly higher revenue was offset by restructuring costs, asset sales and currency exchange rates.
However, the Hartford, Conn., maker of elevators, helicopters and jet engines beat Wall Street expectations. Net income was $1.21 billion, or $1.32 per share, for the three months ended March 31 on revenue of $14.75 billion. Analysts surveyed by FactSet expected earnings per share of $1.27 on revenue of $14.69 billion.
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