By Dave Sebastian

 

General Dynamics Corp. (GD) reported higher profit in the second quarter as sales rose, beating analysts' expectations.

The aerospace and defense company posted $806 million in profit, or $2.77 a share, up from the comparable quarter last year's $786 million, or $2.62 a share. Analysts polled by FactSet were expecting $781.2 million, or $2.68 a share.

Revenue for the quarter was $9.56 billion, compared with $9.19 billion in the prior year. Analysts expected $9.36 billion.

The company's combat-, mission- and marine-systems segments, as well as it aerospace division, saw a rise in revenue. The information-technology segment saw a decline.

General Dynamics said its backlog at the end of the quarter was $67.7 billion. Its total estimated contract value, which is the sum of all backlog components, was $101.9 billion, up 3% from the prior year.

 

Write to Dave Sebastian at dave.sebastian@wsj.com

 

(END) Dow Jones Newswires

July 24, 2019 08:06 ET (12:06 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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