UPDATE: Northrop Grumman Posts Drop In Q4 Profit
Northrop Grumman (NYSE: NOC) reported a 2.7% drop in its fourth-quarter earnings.
Northrop Grumman's quarterly profit fell to $533 million, or $2.14 per share, from $550 million, or $2.09 per share, in the year-ago period. Excluding one-time items, its earnings from continuing operations climbed to $2.06 from $1.85 per share.
Its revenue fell 0.5% to $6.48 billion. However, analysts expected earnings of $1.74 per share on revenue of $6.33 billion.
Its operating margin widened to 12.7% from 12.3%.
Northrop Grumman shares closed at $66.77 yesterday.
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