Lockheed tops 3Q net income expectations


Lockheed Martin on Tuesday reported net income of $888 million in its third quarter.

The Bethesda, Maryland-based company said it had profit of $2.76 per share.

The results exceeded Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $2.72 per share.

The aerospace and defense company posted revenue of $11.11 billion in the period, missing Street forecasts. Analysts expected $11.24 billion, according to Zacks.

Lockheed shares have increased 18 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 3 percent. The stock has climbed 36 percent in the last 12 months.

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