By Allison Prang

Northrop Grumman Corp.'s (NOC) bottom line rose in the most recently completed quarter and the company increased its earnings guidance for 2018.

The company reported a profit of $1.14 billion, 78% higher from the comparable quarter a year earlier. The company said earnings per share were $6.54 up from $3.67. Analysts polled by Refinitiv were expecting earnings of $4.37 a share and adjusted earnings of $4.36 a share.

Sales rose 23% to $8.09 billion. Analysts were expecting $8.01 billion.

Northrop Grumman increased its profit expectations for 2018 and expects to report earnings between $18.75 a share and $19 a share. It had previously expected earnings to be between $16.60 a share and $16.85 a share. Analysts polled by Refinitiv are expecting earnings of $16.91 a share and adjusted earnings of $16.93 a share.

Write to Allison Prang at allison.prang@wsj.com

(END) Dow Jones Newswires

October 24, 2018 07:08 ET (11:08 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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