Raytheon Co.(NYSE:RTN) has posted third quarter profit slightly above market estimates, but its revenue for the period was a touch below expectations.
The defence contractor said its quarterly net income was US$572mln, or US$1.97 per share, up from US$544mln, or US$1.84 per share a year earlier, and above the consensus estimate for US$1.91 per share.
The group’s revenue for the quarter was US$6.28bn, up from US$6.01bn a year earlier, but that was a touch below consensus for US$6.33bn.
The company said sales of its missile systems were up 10% year-over-year.
Raytheon’s chief executive Thomas Kennedy said: "Global customer demand drove an increase in our backlog, which positions us well for continued growth in 2018.”
In pre-market trading in New York, Raytheon shares were 0.1% lower at US$189.00.
