Honeywell meets profit hopes; defense and space sales weigh
Honeywell International, which makes airplane cockpit parts and a host of other electronics and equipment, reported a 4 percent increase in quarterly profit on Friday, with its results undermined by lower defense and space sales.
The company posted third-quarter net income of $990 million, or $1.24 per share, compared with $950 million, or $1.20 per share, a year earlier. Revenue rose 3 percent to $9.65 billion.
Analysts had expected the cockpit electronics maker to report earnings excluding items of $1.24 a share on $9.92 billion in revenue, according to a consensus estimate from Thomson Reuters.
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