Saab JAS 39 Gripen jetfighter

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Fighter jet maker Saab pops 12% on profit beat amid European defense splurge
CNBCยท 2025-07-18 07:54
Group 1 - Saab reported an operating income of 1.98 billion Swedish kronor ($200 million) for Q2, a 49% year-on-year increase, exceeding analyst expectations of 1.71 billion kronor [2] - Quarterly sales for Saab rose by 30% year-on-year, indicating stronger-than-expected growth [2] - Saab's shares have surged 131% since the beginning of the year, reflecting a positive trend in the European defense sector [2] Group 2 - The European Commission proposed a 2 trillion euro budget, which includes significant increases in defense funding as part of Europe's "era of rearmament" [3] - The bloc plans to mobilize up to 800 billion euros ($928 billion) to assist member states in increasing national security spending [3] - NATO members have agreed to raise their defense spending targets to 5% of GDP [4]