UPDATE: United Technologies Posts Upbeat Q4 Earnings

United Technologies

reported a 29% drop in its fourth-quarter earnings. United Technologies' quarterly profit fell to $1.46 billion, or $1.60 per share, from a year-ago profit of $2.06 billion, or $2.26 per share. Its earnings from continuing operations climbed to $1.58 per share from $1.04 per share. Its revenue rose 1.9% to $16.76 billion. However, analysts were estimating a profit of $1.53 per share on revenue of $17.09 billion. United Technologies shares closed at $114.99 yesterday.