Boeing: raises forecasts after stronger third-quarter profit
(CercleFinance.com) - Boeing posted a 31% rise in quarterly profit on Wednesday as the company benefited, amongst other things, from major new defense orders.
Boeing shares are up almost 4% at 363.8 dollars in pre-market trading today, after the company raised its full-year revenue and earnings forecasts.
Boeing's third-quarter net profit rose to 2.6 billion dollars, or 3.58 dollars per share, from 1.8 billion dollars, or 1.22 dollar per share, a year earlier.
The company, a competitor of Airbus for jetliner orders, said revenue rose 4% to 25.1 billion dollars, exceeding expectations of 24 billion dollars.
Revenue at the commercial unit fell 1% to 15.3 billion dollars, although the defense business saw its revenue increase by 13% to 5.7 billion dollars.
Boeing said its order backlog at the end of the quarter was 491 billion dollars, up from 488 billion dollars at the beginning of the quarter.
The plane maker also raised its 2018 earnings forecast to 14.90-15.10 dollars a share, from 14.30-14.50 dollars previously, as well as its revenue outlook to 98-100 billion dollars, from 97-99 billion dollars.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Boeing shares are up almost 4% at 363.8 dollars in pre-market trading today, after the company raised its full-year revenue and earnings forecasts.
Boeing's third-quarter net profit rose to 2.6 billion dollars, or 3.58 dollars per share, from 1.8 billion dollars, or 1.22 dollar per share, a year earlier.
The company, a competitor of Airbus for jetliner orders, said revenue rose 4% to 25.1 billion dollars, exceeding expectations of 24 billion dollars.
Revenue at the commercial unit fell 1% to 15.3 billion dollars, although the defense business saw its revenue increase by 13% to 5.7 billion dollars.
Boeing said its order backlog at the end of the quarter was 491 billion dollars, up from 488 billion dollars at the beginning of the quarter.
The plane maker also raised its 2018 earnings forecast to 14.90-15.10 dollars a share, from 14.30-14.50 dollars previously, as well as its revenue outlook to 98-100 billion dollars, from 97-99 billion dollars.
Copyright (c) 2018 CercleFinance.com. All rights reserved.