Lockheed Martin, Bank Of New York Mellon Beat Estimates

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Lockheed Martin, Bank Of New York Mellon Beat Estimates
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Lockheed Martin and Bank of New York Mellon released their third quarter earnings reports before opening bell this morning. Lockheed Martin posted earnings of $2.77 per share on $11.5 billion in revenue. Analysts had been expecting earnings of $2.72 per share on $11.14 billion in revenue.

Bank of New York Mellon posted earnings of 74 cents per share, a 16% increase from last year on an adjusted basis, on $3.8 billion in revenue, a 1% year over year increase, an 8% decline from last year. Analysts had been expecting earnings of 71 cents per share and $3.9 billion in revenue.

Lockheed Martin nudges guidance higher

Lockheed Martin’s Aeronautics division saw net sales rise to $3.9 billion from $3.5 billion last year, while its Information Systems and Global Solutions business saw net sales fall from $1.95 billion last year to $1.87 billion this year. The Missiles and Fire Control segment saw sales edge higher from $1.9 billion last year to $1.94 billion this year. The Mission Systems and Training segment saw revenue rose to $1.8 billion from $1.7 billion last year, while the Space Systems segment saw net sales fall slightly from $2 billion last year to $1.9 billion this year.

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