Boeing 2Q Net Income Up; Raises OutlookJuly 25th, 2012 11:59 am Associated Press
NEW YORK (AP) — Boeing says its second-quarter net income rose 3 percent on strong sales of commercial airplanes and unexpected defense unit growth. The results surprised Wall Street and plane maker also raised its earnings forecast for the year.
Shares rose almost 3 percent in premarket trading.
The Chicago company earned $967 million, or $1.27 per share, compared with $941 million, or $1.25 per share, a year earlier.
Revenue jumped 21 percent to $20 billion from $16.54 billion a year ago.
FactSet says analysts expected earnings of $1.13 per share on revenue of $19.28 billion.
Defense revenue rose 7 percent, while revenue in the commercial airplane division jumped 34 percent.
For all of 2012, Boeing Co. now expects to earn $4.40 to $4.60 per share, up from between $4.15 and $4.35. Analysts predict $4.57.