LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » World News

Boeing raises profit and sales forecast; shares jump

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Updated: Wed, Oct 24, 2018
09:15 pm
Reuters
RELATED NEWS
Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details
Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities
#GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here #GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here
India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global
RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21 RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21

Boeing shares jumped on Wednesday after the world`s largest planemaker reported stronger-than-expected quarterly profits and cash flow, helped by soaring demand from airlines and solid defense sales and services, and raised its 2018 sales and profit estimates.

Demand from commercial airlines has driven a surge in revenue, pushing shares up by roughly a third over the past 12 months. Boeing shares were up 2.3 percent to $358.12 in morning trading, helping limit losses on Wall Street.

"There`s a lot going on in this quarterly result, but we think investors will revert to norm, and focus on Boeing`s cash flow," Vertical Research Partners analyst Robert Stallard said in a note. "This was a stronger than expected cash result, with a positive $200 million tweak to the 2018 guidance."

Boeing said the stronger cash flow was primarily driven by timing of receipts and expenditures as well as planned higher commercial airplane production rates.

Chinese airlines will buy 7,690 new planes worth $1.2 trillion over the next two decades to keep pace with booming consumer and business demand, Boeing said last month after raising a previous forecast.

Chicago-based Boeing raised its full-year profit forecast to $14.90-$15.10 from the previous $14.30-$14.50 per share, and revenue to a range of $98 billion to $100 billion, up $1 billion. It cited defense volume and services growth for the higher forecast.

Core earnings, which exclude some pension and other costs, came in 11 cents above analysts` average forecasts at $3.58 per share in the quarter ended Sept. 30.ON TRACK FOR RECORD YEAR

Boeing has delivered 568 aircraft in the first nine months of 2018, as it works to overcome factory snarls on its best-selling 737 narrowbody, up from 554 at the end of September a year ago, putting it on track to deliver another record year of plane sales.

That keeps the manufacturer, which aims to deliver between 810-815 planes in 2018, in front of its European rival Airbus SE, which delivered 503 aircraft through September this year. Airbus shares gained 2.7 percent.

Investors shrugged off a set of charges tied to recent defense contracts that Boeing said were booked on the expectation that program costs will exceed revenue.

Boeing recorded $176 million in additional charges in the quarter on its delay-plagued KC-46 aerial refueling tanker, bringing the total cost of the program to more than $3 billion.

It also took a $691-million charge on its MQ25 refueling drone and T-X training jet programs just weeks after it won the latter contract in cooperation with Sweden`s Saab AB, though the charge was offset in part by a $412 million tax benefit.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Economy
RELATED NEWS
Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details
Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities
#GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here #GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here
India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global
RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21 RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21

LATEST NEWS

Anil Singhvi’s Strategy March 3: Day support zone on Nifty is 14,800-14,850 & Bank Nifty is 35,000-35,125

EXCLUSIVE - Maritime Summit 2021: Cochin Shipyard, Shipping Corporation set to emerge as big beneficiaries

PUBG Mobile update: PUBG Mobile New State game may not be launched in India?

Stocks to Watch: Symphony, Blue Star, Amber Enterprises shares to gain as IMD forecasts sizzling hot summer

Kotak Mahindra Bank Cuts Interest Rate on Home Loans by a Further 10 bps to 6.65%

Stocks in Focus on March 3: MTAR Technologies IPO, Tata Power, IRCON, Telecom Stocks to Tyre Stocks; here are the 5 Newsmakers of the Day

Good news for Vi users! Vodafone Idea subscribers to get health insurance benefit on mobile recharges

Jesus hits double as rampant Man City go 15 points clear with Wolves win

'Special Picks' with Anil Singhvi: Cochin Shipyard is a 'must' buy, say these analysts-check price targets

AAP looking to be the main opposition in Guj

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved