Raytheon (RTN) - Get Report shares are rising more than 4.15% after the defense contractor reported second-quarter results that topped estimates and raised its full-year guidance.

The Waltham, Mass., company reported net income of $817 million, or $2.92 a share, as revenue rose 8.1% to $7.16 billion.

Analysts surveyed by FactSet were expecting the company to report earnings of $2.64 a share on revenue of $7.04 billion. 

Bookings, sales, operating margin, earnings per share and cash flow all exceeded the company's expectations, CEO Thomas A. Kennedy said in a statement. "We begin the second half with continued confidence in our growth outlook," with the backlog at a record.

The company also raised its full-year net sales outlook to $29.3 billion from $29.1 billion, while earnings are now expected to be $11.70 a share vs. its previous view of $11.60. 

Analysts surveyed by FactSet are currently expecting reported earnings of $11.63 a share, or an adjusted $11.61, on revenue of $28.87 billion.

Raytheon also briefly talked about its pending acquisition of United Technologies .

Planning for the merger with the Farmington, Conn., company "is progressing well, with the integration team developing detailed execution plans to capture revenue and cost synergies rapidly and ensure seamless operations post-close," Kennedy said.

"We continue to expect the transaction to close in the first half of 2020."