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Diluted earnings per share for the quarter were $0.67, an increase of 18 percent driven by strong revenue growth, gross margin expansion, selling and administrative expense leverage, and a lower average share count, partially offset by a higher effective tax rate. “We are delivering stronger global growth and profitability than we anticipated entering this.
Net income increased 15 percent to $1.1 billion driven primarily by strong revenue growth, gross margin expansion and selling and administrative expense leverage while diluted earnings per share increased 18 percent from the prior year to $0.67 reflecting a 2.5 percent decline in the weighted average diluted common shares outstanding.
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