Boeing Earnings, Revenue Exceed Expectations

Embattled aircraft manufacturer Boeing (BA) reported quarterly earnings and revenue on Wednesday that exceeded Wall Street's expectations.

 The Boeing 787 Dreamliner.Following the announcement, the company's stock rose before the opening bell. (Click here to get real-time quotes for Boeing: BA)

Earnings excluding items fell to $1.28 per share from $1.83 a share in the year-earlier period.

Revenue rose to $22.38 billion from $19.56 billion during the same period last year.

Analysts had expected Boeing to report $22.36 billion in revenue with earnings of $1.19 per share, according to a consensus estimate from Thomson Reuters.

(More From CNBC: Inside Boeing's Rarely Seen Aircraft--Besides the 787)

Boeing said its current guidance for 2013 assumes no significant discount for the Federal Aviation Administration's 787 investigation into the lithium-ion batteries used on the aircraft that had experienced multiple problems and raised questions about their reliability.

Boeing has been buffeted by a wide-ranging controversy surrounding the battery used by its 787 Dreamliner, which forced regulators to ground the aircraft. In November, the company announced a round of layoffs that would shave 30 percent of its management jobs and close several facilities in California.

(More From CNBC: Boeing Was Aware of Battery Problems Before the Fires)

For 2013, the company said it expects earnings per share, excluding items, of $6.10 to $6.30, and forecast capital expenditures of $2.3 billion to $2.5 billion.

Boeing also said it is on track to produce 635 to 645 aircraft in 2013, including 60 787s.


More From CNBC
Also Read
 
Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.

Trading Center