CHICAGO (AP) — Boeing posted better-than-expected, third-quarter net income of $1.85 billion and raised its outlook for the year.
The Chicago company earned $3.06 per share, or $2.72 when adjusted for one-time gains and charges. That’s 7 cents better than industry analysts had predicted, according to a poll by Zacks Investment Research.
Boeing delivered a record 202 commercial airplanes last quarter, pushing revenue to $24.31 billion. That also edged out Wall Street predictions and beat the $23.9 billion for the same period last year.
The aircraft maker’s net income fell almost 20 percent from the year ago quarter because it got a sizeable tax break then. Boeing posted earnings of $2.28 billion in the third quarter last year.
Boeing expects full-year earnings in the range of $9.90 to $10.10 per share, a dime better than earlier forecasts.
The Commerce Department also reported Wednesday that orders for commercial aircraft surged more than 30 percent in September, reflecting strength industry-wide.
Shares of Boeing Co. edged higher before the opening bell Wednesday, and are up more than 90 percent in the past 12 months and more than 70 percent this year.