The aerospace giant, which has benefited from a multi-
year investment boom in global air travel and lofty defense spending amid rising geopolitical tensions, reported profits of $2.4 billion for the quarter ending September 30, a 30.6 percent jump from the same period of the prior year. Revenues rose 3.8 percent to $25.1 billion.
Boeing upgraded its revenue forecast by $1 billion to a range of $98-100 billion for the full year.
"Our teams continued to perform at a high level during the quarter," Boeing Chief Executive Dennis Muilenburg said.
"Strong underlying performance, along with growth across our businesses we've seen throughout the year, give us confidence to raise our 2018 revenue and earnings guidance and reaffirm our operating cash flow guidance."
Shares of the aerospace giant jumped 3.8 percent to $363.17 in early trading.
The gain came a day after fellow industrial giants Caterpillar and 3M saw shares plummet following disappointing results that acknowledged higher costs associated with tariffs connected to US trade conflicts with China and other countries.
Read more at: https://phys.org/news/2018-10-boeing-profits-surge-tax-settlement.html#jCp
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