High Profits for Boeing due to Jetliner Deliveries
Bernadette Carreon | | Jul 23, 2014 02:47 PM EDT |
One of the world's largest global aircraft manufacturers, Boeing posted high profits rose due to jetliners sales, AFP reported.
Profits ending June 30 went higher by 52 percent to $1.65bn, this equals to $22 billion in revenues for the second quarter. The company has an upbeat forecast on stocks share between $7.80 to 8.10 a share.
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Helping to boost revenues is the firm's first Dreamliner 787-9 aircraft, the company profits is also expected to increase with orders for commercial of aeroplanes totaling over 5,000.
The company's news release in its web site said "backlog remains strong at $440 million with over 5,200 commercial airplane orders.
Its 787 Dreamliner still rakes in big numbers due to its popularity, deliveries doubled during the second quarter of 2014. By the end of this year, Boeing projected revenues of up to $90.5 billion.
As a result of the higher than expected earnings, Boeing shares Wednesday picked up during the premarket trading.
Boeing's chairman and chief executive Jim McNerney in a statement said," strong operating performance across our production programs and services businesses drove revenue and earnings-per share growth and healthy operating cash flow."
He added, "overall, our strong first-half financial performance, sustained focus on growth and productivity and positive market outlook support our increased earning guidance for the year."
Its second quarter cash and cash equivalents is $7, 533 million and short-term investments of $3,797 million.
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