(Reuters) -General Dynamics Corp on Wednesday reported a 5.2% rise in quarterly revenue, boosted by strong demand for weapons amid geopolitical instability.
U.S. defense contractors have benefited as the war in Ukraine and tense U.S.-China relations have fueled demand for weapons such as tanks, submarines and fighter jets.
Revenue in the first quarter rose to $9.88 billion, compared with $9.39 billion a year earlier.
However, quarterly profit was flat at $730 million, as supply chain disruptions and labor shortages continue to hobble production.
The company has said “abnormally high retirement” of workers had impacted its electric boat unit, which assembles nuclear-powered submarines.
Sales in its aerospace unit, which makes Gulfstream jets, declined marginally.
(Reporting by Pratyush Thakur in Bengaluru; Editing by Shinjini Ganguli and Sriraj Kalluvila)
