Boeing (NYSE: BA) second-quarter financials beat Wall St. earnings and revenue estimates based on strength in businesses such as commercial airplane deliveries.
Boeing reported net income of $967 million, or $1.27 a share, for the second quarter, up 3% from the year-earlier period. Wall St. was expecting earnings of $1.12 a share, according to average analyst estimates compiled by Thomson Reuters. Revenue for the second quarter totaled $20 billion, up 21% from the year-earlier period. Analysts were expecting revenue of $19.4 billion.
Boeing delivered 150 commercial airplanes in the second quarter, up from 118 in the year-earlier period. This unit delivered more than half of revenue for the company in the quarter, or $11.8 billion. This was a 34% revenue increase from a year ago.
The company raised its revenue and earnings outlook for the year as well. It expects between $79.5 billion to $81.5 billion, up from the previous guidance of $78 billion to $80 billion, in revenue for 2012 and full-year earnings of $4.40 to $4.60 a share, up from $4.15 to $4.35.
Shares of Boeing are up 2.14% to $73.57 in morning trading. The 52-week high is $77.83.
Samuel Weigley
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