Fighter jet maker Saab pops 12% on profit beat amid European defense splurge
Abstract：Saab reported better-than-expected sales growth and income for the second quarter.
- Saab's profit beat comes against a backdrop of improved European spending appetite for defense purchases.
Shares of Swedish defense giant Saab jumped on Friday morning, after the company reported stronger-than-expected profit and sales growth for the second quarter.
Shares were last seen trading 12.16% higher at 3:53 E.T.
Saab's operating income for the second quarter came in at 1.98 billion Swedish kronor ($200 million), marking a 49% year-on-year jump and a beat on the 1.71 billion krona expected by analysts polled by LSEG.
Quarterly sales rose by a better-than-expected 30% year-on-year.
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