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RESTON, Va. (AP) _ General Dynamics Corp. (GD) on Wednesday reported first-quarter profit of $706 million.
The Reston, Virginia-based company said it had net income of $2.43 per share.
The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.46 per share.
The defense contractor posted revenue of $8.75 billion in the period, which also fell short of Street forecasts. Four analysts surveyed by Zacks expected $9.28 billion.
General Dynamics shares have fallen 22% since the beginning of the year, while the Standard & Poor’s 500 index has fallen slightly more than 9%. The stock has declined 22% 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 GD at https://www.zacks.com/ap/GD
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