General Dynamics: 2Q Earnings Snapshot

RESTON, Va. (AP) _ General Dynamics Corp. (GD) on Wednesday reported second-quarter profit of $625 million.

On a per-share basis, the Reston, Virginia-based company said it had profit of $2.18.

The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.14 per share.

The defense contractor posted revenue of $9.26 billion in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $9.11 billion.

Advertisement

General Dynamics shares have decreased 16% since the beginning of the year, while the Standard & Poor’s 500 index has stayed nearly flat. 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

Copyright © 2020 . All rights reserved. This website is not intended for users located within the European Economic Area.