General Dynamics reported higher profit and revenue in the second quarter, as performance improved across all of the company's lines of business.

The defense company on Wednesday posted a profit of $1.16 billion, or $4.24 a share, for its three months ended July 5, compared with $1.01 billion, or $3.74 a share, in last year's comparable period.

Analysts polled by FactSet expected quarterly earnings of $3.96 a share.

Revenue rose 8.1% to $14.09 billion, ahead of Wall Street models for $13.52 billion.

General Dynamics grew revenue across all four of its business segments, it said. The company's largest segment--marine systems--notched revenue of $4.66 billion, up 10% from last year. Its fastest-growing segment was aerospace, with revenue up 15% to $3.53 billion.

Orders totaled $20 billion during the quarter. Total estimated contract value stood at $186.9 billion, including a backlog of $136.5 billion and an estimated potential contract value of $50.4 billion.

"We are well positioned to support our customers' needs and are continuing to make significant investments to increase output to meet strong and growing demand," Chief Executive Phebe Novakovic said.