Whirlpool Corp posted a stronger-than-expected jump in quarterly profit and raised its full-year outlook on Friday, citing sales gains in all of its markets, including Europe and North America. The results suggested US and Euro zone consumer confidence may be turning the corner after being battered by debt crises and austerity measures in Europe and a weak economic recovery and high unemployment in the United States.
Whirlpool shares jumped 6.1 per cent at $126.63 in early trading. Whirlpool reported second-quarter profit of $198 million, or $2.44 a share, up from $113 million, or $1.43 share, during the same period last year. Sales at the maker of Whirlpool, Maytag and KitchenAid appliances rose 5.3 per cent to $4.74 billion. The mean of analysts' estimates was for net income of $189 million and revenue of $4.66 billion, according to Reuters data.
Whirlpool shares jumped 6.1 per cent at $126.63 in early trading. Whirlpool reported second-quarter profit of $198 million, or $2.44 a share, up from $113 million, or $1.43 share, during the same period last year. Sales at the maker of Whirlpool, Maytag and KitchenAid appliances rose 5.3 per cent to $4.74 billion. The mean of analysts' estimates was for net income of $189 million and revenue of $4.66 billion, according to Reuters data.