UPDATE: Boeing Posts Stronger-Than-Expected Q3 Profit, Lifts Forecast

The Boeing Company

reported upbeat earnings for the third quarter and lifted its earnings forecast for the year. The Chicago, Illinois-based company posted a quarterly profit of $1.36 billion, or $1.86 per share, versus a year-ago profit of $1.16 billion, or $1.51 per share. Its core operating earnings surged to $2.14 per share from $1.80 per share. Its revenue jumped to $23.78 billion. However, analysts were estimating a profit of $1.98 per share on revenue of $23 billion. Commercial aircraft deliveries increased 9% to 186 jets. Boeing's revenue at its commercial division rose 15% to $16.11 billion, while operating earnings climbed 11% to $1.8 billion. The company's revenue at defense, space and security division dropped 1.7% to $7.91 billion, while operating earnings jumped 27% to $856 million. Total company backlog at quarter-end was $490 billion, compared to $440 billion at the beginning of the quarter. Boeing now projects full-year earnings of $8.10 to $8.30 per share, versus its earlier forecast of $7.90 to $8.10 per share. "Continued strong operating performance across our production and services businesses drove significant growth in earnings-per-share, and enabled us to continue to capture new business, pushing our order backlog to a record $490 billion," said Boeing Chairman and CEO Jim McNerney. Boeing shares rose 0.45% to $127.69 in pre-market trading.