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
Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)
Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.
Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.
Click here now to get started.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.