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RESTON, Va. (AP) _ General Dynamics Corp. (GD) on Wednesday reported second-quarter profit of $737 million.
On a per-share basis, the Reston, Virginia-based company said it had profit of $2.61.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.52 per share.
The defense contractor posted revenue of $9.22 billion in the period, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $9.23 billion.
Insight by ProPricer: During this webinar James Woolsey, the president of the Defense Acquisition University, Frank Kelley, the vice president of the Defense Acquisition University and Michelle Currier, the professor of contract management at the Defense Acquisition University, will discuss the future of DoD contracting, pricing and acquisition. In addition, Michael Weaver, the professor of contract management at ProPricer will provide an industry perspective.
General Dynamics shares have climbed 30% since the beginning of the year, while the S&P’s 500 index has risen 17%. The stock has increased 31% 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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