×

UPDATE 1-General Dynamics profit beats estimates as military sales rise

(Adds details, share movement)

Jan 24 (Reuters) - Aerospace and defense company General Dynamics Corp beat expectations for fourth-quarter profit on Wednesday, helped by higher sales for its combat systems unit that makes tanks. The company's shares rose 1.15 percent to $209.90 in pre-market trading.

Sales in the combat systems unit rose 7.6 percent to $5.95 billion.

Sales in the aerospace division, its biggest, rose 4 percent to $8.13 billion as it delivered 30 Gulfstream aircraft in the quarter, up from 28, a year earlier.

Shares of U.S. defense companies have rallied since November on U.S. President Donald Trump's election promise to spend more on defense.

Earnings from continuing operations rose to $636 million, or $2.10 per share, in the quarter ended Dec. 31, from $570 million, or $1.89 per share, a year earlier.

The company recorded a $119 million one-time, non-cash charge in the quarter related to U.S. tax changes.

Revenue rose to $8.28 billion from $7.65 billion last year.

(Reporting by Arunima Banerjee in Bengaluru; Editing by Arun Koyyur)