1/25, 1:03 PM (Source: TeleTrader)
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Raytheon Tech Q4 sales rise 4% to hit $17.04B

Raytheon Technologies Corp. issued its fourth-quarter earnings results on Tuesday, showing that its revenue soared 4% to reach $17.04 billion. The company's net income hit $685 million in the same period, marking a 369% rise compared to the previous year's $146 million in the fourth quarter, with earnings per share landing at $0.46.

"We closed the year on a strong note with full-year adjusted EPS and free cash flow significantly exceeding the outlook we set a year ago," Raytheon Technologies Chairman and CEO Greg Hayes said in the report.

Raytheon's adjusted EPS for the same period stood at $1.08, with its operating cash flow reaching $3.2 billion and its free cash flow landing at $2.2 billion.

The company's shares dropped 3.54% in premarket trading on worse-than-expected results.

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