Boeing profit climbs, raises 2011 outlook

[admin]

Boeing profit climbs, raises 2011 outlook
WASHINGTON (MarketWatch) -- Boeing Co. said Wednesday its third-quarter earnings jumped 31% to $1.1 billion, or $1.46 a share, from 837 million, or $1.12 a share, in the year-ago period. Revenue rose 4% to $17.73 billion from $16.07 billion. Analysts surveyed by FactSet Research were looking for earnings of $1.10 a share, on average, with sales of $17.79 billion. For the full year, the Chicago aerospace company raised its profit outlook to a range of $4.30 to $4.40 a share, from a prior view of $3.90 to $4.10 a share, thanks to improved production performance. Wall Street expected earnings of $4.26 a share. Commercial plane deliveries for the year, however, were cut to 480 from an estimated 485 to 495. Shares of Boeing rose 3.4% premarket to $65.86.