Johnson Controls profit beats expectations, revenue slips

Johnson Controls Inc , which makes automotive batteries and heating and ventilation equipment, beat Wall Street's earnings expectations on Thursday but revenue slid due to unfavorable currency exchange rates and the sale of a business unit. The company is planning to spin off its automotive seating and interiors business by next October, to focus on its building efficiency and automotive battery operations. For the current quarter, it said it expects diluted earnings per share to grow by 8 to 12