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Boeing Delivers 8000th 737 Jet, Profit Strong On New Contracts

Shares of Boeing are flying high on Wednesday after the airplane maker added deliveries in commercial airplanes, which helped it achieve a 52% jump in earnings in the second quarter. Profit came in at $2.42 a share, that was nearly 50 cents better than estimates. Revenue came at a little over $22 billion, which was slightly below estimates, but a little better than a year ago. Boeing delivered 181 commercial jets and 47 defense aircraft in the second quarter, which surpassed last year by 7% and 51% respectively. CEO Jim McNerney said Boeing sold its 8000th 737 and the pipeline of orders remains strong. He said, "With 783 new commercial airplane orders to date this year and significant contracts in the quarter for military aircraft and satellites, our backlog remains large and diverse." TheStreet's Julia Sun reports from New York.