Profits at Boeing, the world's largest planemaker, jumped the most in 17 months after raising its 2013 profit forecast and beating analysts' third-quarter estimates with an increase in jetliner deliveries.
Revenue rose 11 per cent to $22.1 billion. Commercial sales increased 15 per cent to $14 billion, with deliveries up 14 per cent to 170 aircraft, while defence grew 3 per cent to $8.05 billion. Full-year profit will be $6.50 to $6.65 a share, up from a range of $6.20 to $6.40, the firm said. Earnings on that basis were $1.80 a share for the three months ended in September, topping estimates compiled by Bloomberg.
Revenue and free cash flow are surging as Boeing speeds the production tempo for single-aisle 737s, wide-body 777s and 787 Dreamliners, blunting the effect of a slowdown in military sales. – (Bloomberg)