Investing.com UK - Financial Markets Worldwide
🔮 Better than the Oracle? Our Fair Value found this +42% bagger 5 months before Buffett bought itRead More

Northrop beats on earnings, lifts 2014 outlook

Published 23/04/2014, 13:06
NOC
-

WASHINGTON (Reuters) - NYSE:NOC on Wednesday reported a higher-than-expected quarterly profit despite a drop in sales, and the U.S. weapons maker raised its earnings forecast.

Northrop, which makes unmanned planes, the B-2 bomber and a host of electronic equipment, said net income rose to $579 million (344 million pounds), or $2.63 per share, in the first quarter from $489 million, or $2.03 a share, a year earlier.

Analysts polled by Thomson Reuters I/B/E/S had expected a net profit of $2.15 per share.

Revenue dropped about 4 percent to $5.84 billion, in line with Wall Street expectations.

The company raised its earnings-per-share outlook for the full year to a range of $8.90 to $9.15 and said it expected an operating margin of about 13 percent, compared with an earlier forecast of 12 percent.

(Reporting by Andrea Shalal; Editing by Lisa Von Ahn)

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.