UPDATE: Lockheed Martin Posts Rise In Q3 Profit, Lifts 2013 View

Lockheed Martin LMT reported a rise in its third-quarter profit. Lockheed Martin's quarterly profit surged to $873 million, or $2.66 per share, up from $727 million, or $2.21 per share, in the year-ago period. Its earnings from continuing operations came in at $2.57 per share, up from $2.21 per share. Its revenue declined to $11.3 billion from $11.9 billion. However, analysts were estimating earnings of $2.27 per share on revenue of $11.15 billion. Lockheed Martin lifted its 2013 earnings outlook to a range of $9.40 to $9.70 per share. Lockheed Martin shares closed at $125.30 yesterday.