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Shares of
Boeing Co gained around 2.5 percent in pre-market trading after the company reported better-than-expected results for the third quarter and lifted its forecast.
The Chicago, Illinois-based company posted a quarterly net profit of $1.70 billion, or $2.47 per share, compared to a year-ago profit of $1.36 billion, or $1.86 per share. Excluding items, the company's adjusted earnings came in at $2.52 per share.
Its revenue climbed 9 percent to $25.8 billion. Analysts were estimating earnings of $2.22 per share on revenue of $24.74 billion.
The average estimate among 98 Estimize users was for earnings of $2.21 per share and revenue of $24.65 billion.
Commercial Airplanes revenue surged 10 percent to $17.7 billion, while Defense, Space & Security's revenue came in at $8.4 billion for the quarter.
During the quarter, Boeing repurchased 11 million shares for $1.5 billion.
At the end of the quarter, the company had cash and investments in marketable securities of $9.9 billion, compared to $9.6 billion at the beginning of the quarter.
"By continuing to profitably deliver on our large and diverse backlog, we are driving strong growth in revenue, earnings and cash flow," said Boeing President and Chief Executive Officer Dennis Muilenburg. "Solid operating performance across our commercial and defense businesses during the quarter also supported our continued investment in innovation and our people, and our commitment to return cash to shareholders."
The company now expects 2015 core earnings of $7.95 to $8.15 per share, versus earlier forecast of $7.70 to $7.90 per share. It projects revenue of $95.0 billion to $97.0 billion.
Boeing shares rose 2.54 percent to $142.50 in pre-market trading.
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