Boeing profit tops forecasts, outlook raised

An Air India Boeing 787 Dreamliner suring the Paris Airshow US aerospace giant Boeing reported on Wednesday second-quarter profit topping expectations and raised its performance outlook for the full year .
Net earnings were $1.1 billion, up 13 percent from the year-ago period, on revenue that rose 9.0 percent to $21.8 billion.
Core earnings of $1.67 per share increased 13 percent from the 2012 April-June period, The Boeing Company said.
That was well above market estimates of $1.58 per share.
"Continued strong core operating performance drove higher earnings, revenue and operating cash flow during the quarter," Jim McNerney, Boeing chairman, president and chief executive, said in a statement.
"We also further strengthened our market-leading position in commercial airplanes with the successful launch of the 787-10 and $40 billion of new orders."
McNerney said the the company's defense, space and security business produced improved margins and market share "in a tough market" subject to sharp government spending cuts.
The Chicago-based company raised its 2013 earnings and revenue guidance, saying it expects to deliver a 7.0 percent increase in core earnings per share.
Source: AFP