Boeing Shares Soar Another 100,000 Feet as Earnings Blow Away Wall Street Estimates
Boeing Co. (BA) - Get Boeing Company Report shares rose 10% on Wednesday after beating earnings estimates and raising its outlook for the rest of the year.
The Chicago-based company reported earnings per share of $2.89, beating the consensus of $2.59 from analysts polled by FactSet.
Revenue came in at $22.7 billion, missing analysts' estimates of $23.0 billion for the quarter ended June 30. The company sold 226 commercial and defense aircraft units during the period.
Dow component Boeing Co. rose more than 8% following an earnings beat.
"A healthy pace of sales announcement at the Paris air show contributed to 183 net new airplane orders worth $22 billion during the quarter, adding to our already robust backlog that now stands at more than 5700 airplanes,"
Boeing provided the chart below to show its new internal estimates for the full year 2017 results.
TheStreet Recommends
Boeing Co. (BA) - Get Boeing Company Report made new all-time highs last Wednesday, cementing its place as the best-performing stock in the Dow Jones Industrial Average so far in 2017. That's a big move for a large-cap company like Boeing, which now sports a market cap of nearly $130 billion.
Year to date, Boeing is up more than 38% on a total returns basis, nearly quadrupling the performance of the rest of the Dow over that same time frame. Cue the high-flyer puns.
The stock is on fire. But if you think you've missed out on Boeing's massive rally this year, think again. It's not too late to establish a position in Boeing this summer. In fact, Boeing is sending a brand new technical buy signal ahead of earnings. To figure out where Boeing is heading from here, we're turning to the charts for a technical look. Boeing Investors Should Dump Up to 50% of Their High-Flying Shares Immediately
- Boeing Could Soar Another 150,000 Feet and Stay the Hottest Dow Jones Industrial Average Performer
Don't miss these top stories on TheStreet:
- Facebook Blows the Minds of Investors Yet Again With How Much Money It's Making
- Trump Announces iPhone-Maker Foxconn Building a $10 Billion Facility in Wisconsin
- What Could President Trump Actually Do to Amazon and Jeff Bezos?
- Ford Let Us Drive Its Tough New Pickup Truck and We Couldn't Believe the Rip Your Face Off Power
- GM May Slash Six Car Models to Combat Slumping Sales, Avoid Plant Layoffs
- Here's How to Trade Tesla Ahead of the Model 3 Delivery Date This Friday
