Raytheon: 2Q Earnings Snapshot
WALTHAM, Mass. (AP) _ Raytheon Co. (RTN) on Thursday reported second-quarter profit of $817 million.
On a per-share basis, the Waltham, Massachusetts-based company said it had profit of $2.92.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.61 per share.
The defense contractor posted revenue of $7.16 billion in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $7.01 billion.
Raytheon shares have increased 20% since the beginning of the year, while the Standard & Poor’s 500 index has increased 20%. The stock has dropped 6.5% in the last 12 months.