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Lockheed 2Q profit rises 3.5 percent

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BETHESDA, Md. (AP) — Lockheed Martin Corp. (LMT) on Tuesday reported earnings that increased by 3.5 percent in its second quarter, and topped analysts' expectations.

The Bethesda, Maryland-based company said profit increased to $889 million, or $2.76 per share, from $859 million, or $2.64 per share, in the same quarter a year ago. The average estimate of analysts surveyed by Zacks Investment Research was for profit of $2.66 per share.

The company reported revenue of $11.31 billion compared with $11.41 billion in the same quarter a year ago, and beat Wall Street forecasts. Analysts expected $11.07 billion, according to Zacks.

Lockheed Martin shares have risen $14.32, or 9.6 percent, to $162.98 since the beginning of the year, while the Standard & Poor's 500 index has climbed 6.8 percent. The stock has climbed $47.33, or 41 percent, in the last 12 months.

This story was generated automatically by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Full LMT report: http://www.zacks.com/ap/LMT

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Keywords:Lockheed,Earnings Report

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