General Dynamics Corp. reported third-quarter net income of $1.23 billion, or $4.49 per share, surpassing the $4.13 average estimate from analysts surveyed by LSEG. Revenue rose nearly 13% from a year earlier to $14.57 billion, above LSEG's $13.73 billion estimate. The company also exceeded the previously cited Zacks Investment Research estimates of $4.14 per share and $13.69 billion in revenue. Strong Gulfstream business-jet deliveries, improving aerospace margins, steady submarine production and robust shipbuilding bookings supported the results. Total quarterly bookings were 6.8 times billings, Gulfstream deliveries increased to 40 aircraft from 39 a year earlier, and aerospace orders reached $5 billion. General Dynamics said in July that supply-chain challenges were easing in its Gulfstream and Marine businesses. For the quarter ended October 4, estimated contract value rose to $270.7 billion from $186.9 billion three months earlier, while backlog reached a record $220.3 billion from $136.5 billion after major awards for Columbia- and Virginia-class submarines. Shares rose about 4% before the bell as rising U.S. and European defense spending supported procurement and modernization programs.