Lockheed Martin Corporation (NYSE:LMT) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. Net income decreased -16.69% to $569 million ($1.73 per diluted share) in the quarter versus a net gain of $683 million in the year-earlier quarter. Revenue decreased 0.91% to $12.1 billion from the year-earlier quarter.
Lockheed Martin Corporation reported adjusted net income of $1.73 per share. By that measure, the company missed the mean analyst estimate of $1.82. It beat the average revenue estimate of $11.16 billion.