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Amid accelerating defense spending on unmanned aerial systems, AeroVironment reported that its fourth-quarter revenue more than doubled to $641.6 million from $275.1 million a year earlier, driven by higher product sales and service revenue. The company posted record profit, according to a report by The Wall Street Journal.
This strong performance comes as demand for military drones surges globally, with governments racing to enhance their intelligence and strike capabilities. AeroVironment stands out as a key player with major government contracts, supporting expectations of continued growth in the sector.
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Sign InAeroVironment (AVAV) stock price was not available at the time of reporting, but the robust financial results underpin a positive outlook for the stock. Investors will focus on the upcoming earnings conference call for management guidance on revenue growth and margins, amid sustained demand for defense systems.