Repeat & Correct: General Dynamics 1Q Profit Falls, Beats Expectations
April 24 2019 - 3:03PM
Dow Jones News
(General Dynamics' net profit and revenue for the first quarter
beat the expectations of analysts polled by Refinitiv. "General
Dynamics 1Q Profit Falls, Misses Expectations," published at 8:23
a.m. EDT, incorrectly stated that the earnings and revenue missed
expectations. The correct version follows.)
By Kimberly Chin
General Dynamics Corp. (GD) reported its net profit slid 6.8% in
the first quarter, beating analysts' expectations.
The aerospace and defense company said its net profit was $745
million, or $2.56 a share, compared with $799 million, or $2.65 a
share, a year earlier. Analysts polled by Refinitiv forecast
earnings of $2.44 a share.
Sales rose 23% to $9.26 billion from a year ago. Analysts
expected $8.84 billion.
General Dynamics said revenue at its aerospace unit grew 23%
from a year earlier to $2.24 billion, while revenue in the combat
systems unit gained 14% to $1.64 billion.
Sales in information technology surged 91% to $2.17 billion,
while mission systems sales gained 5.5% to $1.16 billion.
Write to Kimberly Chin at kimberly.chin@dowjones.com
(END) Dow Jones Newswires
April 24, 2019 14:48 ET (18:48 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
General Dynamics (NYSE:GD)
Historical Stock Chart
From Mar 2024 to Apr 2024
General Dynamics (NYSE:GD)
Historical Stock Chart
From Apr 2023 to Apr 2024