(MENAFN- Saudi Press Agency)
Chicago, Jumada I 14, 1439, Jan 31, 2018, SPA -- Boeing Company's fourth-quarter results easily beat Wall Street expectations Wednesday, lifted by strong deliveries and recent tax-reform legislation, and the aeronautics giant released a better-than-expected 2018 outlook.
In the October-December quarter, Boeing earned profit of $3.13 billion, up from $1.63 billion in the same period a year earlier. About half the gain was due to new tax changes. Revenue increased to $25.37 billion from $23.29 billion a year ago, as commercial airplane deliveries rose 13 percent to 209 in the quarter. Both profit and revenue results beat analyst estimates.
Boeing's 2018 profit outlook was well above Wall Street estimates, as the company expects its busiest year ever for airplane deliveries. It aims to ship between 810 and 815 commercial aircraft in 2018, as much as 6.8 percent more than the industry-record 763 jets it delivered in 2017.
Helped by the strong demand for jetliners, Boeing forecast core profit would rise to $13.80 to $14 a share this year, with revenue in a range of $96 billion and $98 billion, ahead of analyst average estimates of $11.96 a share and revenue of $93.4 billion.
The world's biggest airplane maker forecast that operating cash flow, a key measure of its financial performance, will rise to about $15 billion in 2018, compared with $13.3 billion last year.
--SPA
21:48 LOCAL TIME 18:48 GMT
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