Northrop tops profit estimates, but underwhelming outlook hits shares

Northrop tops profit estimates, but underwhelming outlook hits sharesU.S. weapons maker Northrop Grumman Corp reported earnings on Wednesday that exceeded analysts’ profit estimates, but frustrated investors betting on an even better quarter after rival Lockheed Martin Corp’s strong results earlier this week. Northrop’s shares fell 6.2 percent at the start of trading after reporting its first results to include its $ 7.8 billion acquisition of rocket-maker Orbital ATK. Northrop also raised its earnings forecast for 2018, which it expected to be led by sales of parts used in fighter jets as well as a lower tax rate.



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