UPDATE: Eaton Reports Upbeat Q2 Profit, Raises Full-Year Forecast

Eaton Corp

reported better-than-expected quarterly profit on Monday and lifted its full-year outlook. Eaton's quarterly net earnings climbed 49% y/y to $336 million, or $0.97 per share, from $226 million, or $0.66 per share. Its revenue gained 21% to $4.09 billion. Analysts were expecting earnings of $0.95 per share on revenue of $4.02 billion. Eaton lifted its 2011 profit projections to a range of $3.90 to $4.10 per share from continuing operations, versus analysts' estimates of $3.92 per share. Eaton shares fell 0.76% to close at $51.16 on Friday.