Shares of General Dynamics Corp. GD rallied 1.8% toward a three-month high in premarket trading Wednesday, after the aerospace and defense company beat second-quarter earnings expectations, amid a record backlog and strong cash flow. Net income slipped to $744 million, or $2.70 a share, from $766 million, or $2.75 a share, in the year-ago period. That beat the FactSet consensus for earnings per share of $2.56. Revenue grew 10.5% to $10.15 billion, above the FactSet consensus of $9.46 billion.
8% toward a three-month high in premarket trading Wednesday, after the aerospace and defense company beat second-quarter earnings expectations, amid a record backlog and strong cash flow. Net income slipped to $744 million, or $2.70 a share, from $766 million, or $2.75 a share, in the year-ago period. That beat the FactSet consensus for earnings per share of $2.56. Revenue grew 10.5% to $10.15 billion, above the FactSet consensus of $9.46 billion. Backlog increased 4.3% to $91.