April 24, 2019 / 11:40 AM / 3 months ago

General Dynamics first-quarter profit falls 7 percent

April 24 (Reuters) - General Dynamics Corp on Wednesday posted a 7 percent fall in quarterly profit, hit by higher costs as the U.S. aerospace and defense company ramps up production of next-generation Gulfstream jets.

Net earnings for the company fell to $745 million, or $2.56 per share, in the quarter ended March 31, from $799 million, or $2.65 per share, a year earlier.

Revenue rose 23 percent to $9.26 billion. (Reporting by Sanjana Shivdas in Bengaluru; Editing by James Emmanuel)

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