FILE PHOTO: Logo of the U.S. defense company Raytheon is pictured at an international military fair in Kielce, Poland September 7, 2017. REUTERS/Kacper Pempel
(Reuters) – Tomahawk missile maker Raytheon Co on Thursday reported a better-than-expected first-quarter profit, driven by higher demand for its weapons from the United States and its allies.
Waltham, Massachusetts-based Raytheon and other U.S. weapons makers are expected to benefit from higher U.S. defense spending under President Donald Trump as well as strong global demand for advanced weapons and munitions.
Sales in the Raytheon’s intelligence, information and services unit, it’s second biggest by revenue, increased 12.3 percent to $1.78 billion in the quarter ended March 31, helped by higher revenue from ‘classified programs’.
Operating margin in the intelligence, information and services business,