General Dynamics Corp (NYSE:GD).'s shares saw a 1.9% rise in premarket trading Today, signaling a potential end to a seven-day losing streak. This comes after the company surpassed Q3 profit and revenue expectations, driven by high demand across several divisions.
Despite a dip in net income to $836 million from $902 million the previous year, the company's earnings still exceeded the FactSet consensus of $2.91 per share. Revenue growth was also robust, with a 6% increase to $10.57 billion outpacing the FactSet estimate of $10.05 billion.
The strong performance was largely attributed to the company's marine systems, combat systems and technologies divisions, which offset an aerospace shortfall. Additionally, General Dynamics reported a record-high backlog of $95.6 billion, marking the most substantial figure in its history and further highlighting its solid performance during this period.
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