WASHINGTON (dpa-AFX) - Aerospace and defense technology company Northrop Grumman Corporation (NOC) Thursday reported improved earnings for the third quarter, helped by growth in revenue. The company's earnings as well as revenue beat analysts' view. Northrop also raised its full-year revenue outlook.
Earnings were $937 million or $6.18 per share for the third quarter, higher than $915 million or $5.89 per share in the same quarter a year ago. The consensus estimate of analysts polled by Thomson-Reuters stood at $5.81 per share. Analysts' estimates typically exclude special items.
Sales for the quarter increased 9% to $9.775 billion from $8.971 billion last year. The Street was expecting for sales of $9.58 billion.
The company now expects full-year sales to be nearly $39 billion, up from the previous outlook of $38.4 billion - $38.8 billion. Adjusted EPS for the year is expected between $22.45 and $22.85.
Analysts expect the company to report earnings of $22.72 per share on revenue of $38.77 billion.
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