Investors Shrug Off General Dynamics' Earnings Beat
Defense contracting giant General Dynamics (NYSE: GD), maker of M1 Abrams main battle tanks, nuclear-powered submarines, and Gulfstream business jets, too, beat analyst earnings estimates with a stick in its first-quarter 2021 financial report this morning -- and investors could hardly care less.
The company earned $2.48 per share in the first quarter, well ahead of Street estimates for $2.30, and it recorded $9.4 billion in sales, a cool half-billion dollars more than the $8.9 billion it was predicted to generate. But despite all the good news, General Dynamics stock was up a bare 1% at noon EDT on Wednesday.
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Source Fool.com
