Gen Dynamics (NYSE:GD)
Historical Stock Chart
3 Months : From Apr 2019 to Jul 2019
(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 email@example.com
(END) Dow Jones Newswires
April 24, 2019 14:48 ET (18:48 GMT)
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