General Dynamics (NYSE:GD) announced that third quarter profit fell by 8 percent due to higher costs offsetting an increase in revenue. The company earned $600 million, or $1.70 per share, down from $652 million, or $1.80 per share, in the same period last year. Revenue was higher by one percent $7.93 billion. Analysts expected a profit of $1.78 on $8.03 billion in revenue.
Shares are higher by about 2.2 percent.
Rival Boeing (NYSE:BA) announced stronger than expected earnings and raised its full year forecast due to improved defense spending and more aircraft deliveries.
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