Aerospace giant Boeing beats Wall Street’s expectations for deliveries
Faster production of commercial jets continues to drive profits at the Boeing Co., which saw earnings jump 25 per cent in the third quarter. It also raised its earnings outlook for the year.The Chicago-based company on Wednesday posted a $1.7 billion net profit, up from $1.36 billion during the same period last year.
October 22, 2015 By The Associated Press
Boeing said it earned $2.47 per share. Earnings excluding certain pension expenses came to $2.52 per share. The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.22 per share.
Commercial jet manufacturing is playing a larger and larger role at Boeing, also known for its military and space programs. Payments from the delivery of new jets to airlines accounted for 68 per cent of Boeing’s $25.85 billion in revenue. That also beat Wall Street’s estimates; analysts surveyed by Zacks expected $24.74 billion. | READ MORE