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General Dynamics tops quarterly results as Gulfstream, marine drive bookings

By Reuters News

Oct 30 (Reuters) - General Dynamics GD.N on Friday beat Wall Street expectations for third-quarter profit and revenue on strong Gulfstream business jet and ‌shipbuilding operations.

The company recorded another strong quarter on higher Gulfstream jet deliveries and improving aerospace margins, along with steady progress on submarine production and robust cash generation.

It said in July that supply-chain challenges were easing across its Gulfstream and Marine businesses, allowing it to ramp up production and reduce backlogs.

The defense contractor's quarterly profit of $4.49 per share came above analysts' average estimate of $4.13, according to data compiled by LSEG.

For the quarter ended October 4, total revenue rose nearly ⁠13% from a year ago to $14.57 billion, compared with estimates ​of $13.73 billion.

Shares of the company were up about 2% before the bell.

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