Defense contractor General Dynamics (NYSE:GD) reported a second-quarter profit that came in higher than expected, with a rise of 4.9% in revenue.
General Dynamics, which also makes Gulfstream planes, reported a profit of $648 million, or $1.67 per share, compared with $618 million, or $1.60 per share, last year. Thomson Reuters analysts polled projected earnings of $1.61 a share on $8.33 billion in revenue.
Continue Reading Below
Overall revenue came in flat at $8.1 billion, while the company’s largest segment, information technology, had a rise in sales of 12%. Sales in the company’s aerospace and combat systems division were down, by 2.3% and 12%, respectively.