UPDATE: ITW Reports Downbeat Q2 Profit; Shares Down In Pre-Market

Illinois Tool Works Inc ITW reported downbeat quarterly profit on Tuesday. ITW reported its quarterly earnings at $498.4 million, or $0.99 per share, up from $411.5 million, or $0.81 per share, in the year-earlier period. Its revenue climbed 18% to $4.62 billion. Analysts were expecting a profit of $1.02 per share on revenue of $4.68 billion. ITW shares dropped 3.53% to $55.00 in pre-market trading.