Earnings Roundup

Abbott Laboratories (NYSE: ABT) reported a 50% rise in its Q2 net income. ABT's quarterly earnings jumped to $1.94 billion, or $1.23 per share, from $1.29 billion, or $0.83 per share, in the year-ago period. Its adjusted earnings came in at $1.12 per share. ABT's revenue surged to $9.62 billion from $8.83 billion. However, analysts were expecting earnings of $1.11 per share on revenue of $9.54 billion. Abbott raised its full-year earnings forecast range to $4.58 to $4.68 per share, versus analysts' estimates of $4.60 per share.

Johnson Controls Inc (NYSE: JCI) reported upbeat quarterly profit. Johnson Controls reported its Q3 net income at $357 million, or $0.52 per share, down from $418 million, or $0.61 per share, in the year-ago quarter. Excluding one-time items, JCI's earnings came in at $0.56 per share. Its sales surged 21% to $10.4 billion. Analysts were expecting earnings of $0.53 per share on revenue of $9.54 billion. JCI projects Q4 earnings of $0.75 per share, which includes $0.03 per share for acquisition-related costs and $0.02 per share for production disruptions from the earthquake in Japan. Analysts are estimating earnings of $0.80 per share.

Altria Group Inc (NYSE: MO) reported a 57% decline in its Q2 net profit. Altria's quarterly net profit declined to $444 million, or $0.21 per share, from $1.04 billion, or $0.50 per share, in the year-earlier quarter. Altria's revenue dropped 5.6% to $5.92 billion. Its adjusted earnings gained 6% to $0.53 per share. Analysts were expecting earnings of $0.53 per share. Altria reaffirmed its 2011 earnings forecast in a range of $1.70 to $1.76 per share and adjusted earnings in a range of $2.01 to $2.07 per share. Analysts were expecting adjusted earnings of $2.04 per share.

United Technologies Corp (NYSE: UTX) reported a 19% rise in its second-quarter profit and lifted its profit forecast for 2011. UTX reported its quarterly profit at $1.32 billion, or $1.45 per share, up from $1.1 billion, or $1.20 per share, in the year-earlier period. Its revenue surged to $15.1 billion, from $13.8 billion. However, analysts were expecting earnings of $1.41 per share on revenue of $14.6 billion. United Technologies lifted its 2011 profit forecast to a range of $5.35 to $5.45 per share from its earlier forecast of $5.25 to $5.40 per share. Analysts expect 2011 profit of $5.43 per share.

AMR Corp (NYSE: AMR) released its results for the second quarter on Wednesday. AMR reported a quarterly loss at $286 million, or $0.85 per share, versus a loss of $11 million, or $0.03 per share, in the year-earlier period. Its revenue rose 7.8% to $6.11 billion. Analysts were expecting a loss of $0.75 per share on revenue of $6.12 billion. Its aircraft fuel expenses surged 31%. Its passenger revenue per available seat mile increased 4.3%. AMR's load factor dropped to 83.6% from 83.9%.

Host Hotels & Resorts Inc (NYSE: HST) reported a strong rise in its second-quarter profit. HST's quarterly profit jumped to $62 million, from $19 million in the year-earlier period. Its revenue climbed 17% to $1.3 billion. HST's earnings per share increased to $0.09 per share from $0.02 per share in the year-earlier period and included one-off charges of $0.01 per share. Analysts were expecting earnings of $0.09 per share on revenue of $1.27 billion.

BlackRock Inc (NYSE: BLK) reported a 43% surge in its Q2 net income. BlackRock's quarterly net income surged to $619 million, or $3.21 per share, from $432 million, or $2.21 per share in the year-ago period. Its revenue increased 16% y/y to $2.35 billion from $2.03 billion. On an adjusted basis, BlackRock's earnings came in at $3.00 per share. Analysts were expecting earnings of $2.88 per share on revenue of $2.33 billion.

PNC Financial Services Group Inc (NYSE: PNC) reported a 14% rise in its Q2 net profit. PNC's quarterly net profit surged to $912 million, from $803 million in the year-ago period. The group's earnings per share climbed to $1.67 from $1.47 in the year-earlier period. Its revenue declined 7.9% to $3.6 billion. Analysts were expecting earnings of $1.48 per share on revenue of $3.59 billion.

Textron Inc (NYSE: TXT) released its results for the second quarter on Wednesday. Textron's quarterly net income surged to $90 million, or $0.29 per share, from $82 million, or $0.27 per share, in the year-ago period. The company's revenue climbed 7% to $2.73 billion. Analysts were expecting earnings of $0.24 per share. Textron reiterated its 2011 earnings from continuing operations forecast of $1 to $1.15 per share, versus analysts' estimates of $1.12 per share.

Quest Diagnostics Inc (NYSE: DGX) reported a 16% drop in its Q2 earnings. Quest reported its quarterly profit at $163.1 million, or $1.02 per share, versus $194.7 million, or $1.07 per share, in the year-earlier quarter. Excluding acquisition-related expenses, Quest's earnings came in at $1.12 per share. Its revenue rose 1.5% to $1.9 billion. Analysts were expecting earnings of $1.12 per share on revenue of $1.92 billion.

U.S. Bancorp (NYSE: USB) reported a 57% rise in its second-quarter profit. U.S. Bancorp reported its quarterly profit at $1.2 billion, or $0.60 per share, up from $766 million, or $0.45 per share, in the year-ago period. Its net revenue rose 3.8% to $4.69 billion. Analysts were expecting a profit of $0.53 per share on revenue of $4.55 billion.

Hudson City Bancorp Inc (NASDAQ: HCBK) reported a 33% drop in its second-quarter net income. HCBK's quarterly earnings fell to $96 million, or $0.19 per share, from $142.6 million, or $0.29 per share, in the year-ago quarter. However, analysts were expecting earnings of $0.18 per share. Its revenue from interest on loans dropped 14% y/y to $272.9 million from $317.5 million.

Knight Capital Group Inc (NYSE: KCG) reported a 68% decline in its Q2 profit. Knight Capital reported its quarterly profit at $17.6 million, or $0.19 per share, down from $54.4 million, or $0.58 per share, in the year-ago period. Its revenue fell 11% to $326 million. Analysts were expecting a profit of $0.20 per share on revenue of $297 million.