Textron Profit Misses As Demand For Aircraft Drops
Textron (TXT) reported a 6.7% rise in third-quarter earnings on Wednesday. But it was not enough to beat Wall Street estimates as demand for its military and business aircraft fell. Still Textron raised its 2012 guidance. The helicopter and airplane maker said Q3 earnings were 48 cents per share, three cents below analysts' estimates. Revenue rose 6.6% to $3 billion, in line with expectations. Shares tumbled 7% to 24.63 in afternoon trading
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