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BETHESDA, Md. (AP) _ Lockheed Martin Corp. (LMT) on Tuesday reported fourth-quarter profit of $1.5 billion.
The Bethesda, Maryland-based company said it had profit of $5.29 per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $4.99 per share.
The aerospace and defense company posted revenue of $15.88 billion in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $15.28 billion.
For the year, the company reported profit of $6.23 billion, or $21.95 per share. Revenue was reported as $59.81 billion.
Lockheed expects full-year earnings to be $23.65 to $23.95 per share, with revenue in the range of $62.75 billion to $64.25 billion.
Lockheed shares have risen 11% since the beginning of the year, while the Standard & Poor’s 500 index has stayed nearly flat. The stock has increased 51% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LMT at https://www.zacks.com/ap/LMT
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