Boeing earnings top estimates, raises guidance

ChinaFotoPress | Getty Images A Boeing 787-8 Air China jet.

ChinaFotoPress | Getty Images
A Boeing 787-8 Air China jet.

Boeing reported quarterly earnings and revenue that beat analysts’ expectations on Wednesday, and the aerospace giant raised its full-year guidance.

After the earnings announcement, the company’s shares rose in premarket trading. (Get the latest quote here.)

The company posted third-quarter earnings of $2.14 a share, up from $1.80 a share in the year-earlier period.

Revenue increased to $23.8 billion from $22.13 billion a year ago.

Analysts had expected the company to report earnings of $1.97 a share on nearly $23.02 billion in revenue, according to a consensus estimate from Thomson Reuters.

Boeing said it now sees 2014 earnings per share, excluding items, of $8.10 to $8.30. The company previously had forecast a range of $7.90 to $8.10 a share.

The Chicago-based company recently announced it will sell 50 planes to airline Garuda Indonesia for $4.9 billion. Both Boeing and its French rival Airbus have long backlogs of orders for commercial jets, as airlines seek newer, more efficient planes to offset jet fuel costs.

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