Northrop beats Q2 profit expectations, lifts target for full year
July 29 (Reuters) - Northrop Grumman Corp, maker of Global Hawk drones, reported higher-than-expected quarterly earnings and raised its guidance for earnings in the full year, despite flat or lower revenues in each of its four business sectors.
Northrop reported net earnings of $531 million, or $2.74 per share in the second quarter, up from $511 million or $2.37 a year earlier. Revenues dropped slightly to $5.89 billion from $6.04 billion. Analysts polled by Reuters I/B/E/S had expected earnings per share of $2.36 on $5.93 billion in revenues.
The company said it expected full year earnings per share of $9.55 to $9.70, up from an earlier forecast of $9.40 to $9.60.
(Reporting by Andrea Shalal, Editing by Franklin Paul)
