Eaton gives downbeat outlook as profit misses forecasts

Fri Aug 2, 2013 6:46am EDT

Aug 2 (Reuters) - Diversified manufacturer Eaton Corp on Friday reported a quarterly profit that missed Wall Street forecasts, and it cut the top end of its full-year earnings outlook, citing lower expected market growth.

Second-quarter net income rose to $494 million, or $1.04 per share, from $382 million, or $1.12 per share, a year earlier, when the company had far fewer shares outstanding.

Excluding items, earnings of $1.09 per share fell 2 cents below the analysts' average estimate, according to Thomson Reuters I/B/E/S.

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