As part of the earnings release by companies, Interpublic Group of Companies Inc (NYSE:IPG), Honeywell International Inc. (NYSE:HON), and VF Corp (NYSE:VFC) have released their results for the second quarter of 2014.
Interpublic Group of Companies Inc (NYSE:IPG), which is a provider of advertising and marketing services has reported second quarter of 2014 revenue of $1.85 billion, compared to $1.76 billion in the same period last year, marking an increase of 5.4%, whereas organic revenue reflected an increase of 4.7%.
The reported operating income for the second quarter of the current year was $195.8 million, compared to $174.8 million in the same period in 2013. The major reason for the rise in revenues is a strong international market as well as increasing ad spending in the U.S.
Honeywell International Inc. (NYSE:HON), an aerospace technology company, reported a total revenue of $10.25 billion for the second quarter of 2014, which is a 6% rise over revenues of $9.69 billion for the same period last year. Meanwhile, earnings per share rose to $1.38 from $1.28 a year ago, marking an increase of 8%.
The rise in earnings was the result of higher sales of turbochargers, which are used in automobiles. There is an increase in the demand for turbochargers that help in making cars more fuel-efficient, due to new regulations in Europe, China and the U.S.
Honeywell International Inc. (NYSE:HON) has raised its full year 2014 earnings guidance to $5.45 per share, from $5.40 per share at the lower end and has kept the higher end unchanged at $5.55 per share. Moreover, on July 14, 2014, the company had announced that it will merge its transportation systems unit with its aerospace division to take advantage of the similarities between the two.
VF Corp (NYSE:VFC) also released its earnings for the second quarter of 2014 and reported an 8% rise in revenues to $2.4 billion, which was mainly led by double-digit growth in the company’s Outdoor & Action Sports business, international business and direct-to-consumer businesses. Meanwhile, the earnings rose 16% to $0.36 per share, compared to $0.31 per share for the same period in 2013.