US defence contractor Lockheed Martin has reported its profit rose 56 per cent in the second quarter amid robust growth across most of its businesses.
The company also raised its full-year earnings outlook. Its shares jumped $1.49, or 2.4 per cent, to $64 in premarket trading.
Lockheed - whose products include F/A-22 fighter jets, submarine warfare systems, satellites and surveillance systems - reported earnings of $461 million, or $1.02 per share, for the April-June period compared with $296 million, or 66 cents per share, in the prior-year period.
Sales rose 6 per cent to $9.3 billion from $8.8 billion a year ago. Sales in the systems and IT group rose 17 per cent to $4.79 billion.
The results were helped by a $27 million gain related to its investment in satellite network operator Inmarsat, which bolstered earnings by 6 cents per share.
Lockheed forecast full-year earnings of $3.60 to $3.75 per share, on sales between $36.5 billion to $38 billion.