Updated from 8:01 a.m. EDTBoeing ( BA) reported a second-quarter loss that matched Wall Street's estimates, and the aerospace giant also raised its earnings guidance to a level roughly consistent with expectations. The company lost $160 million, or 21 cents a share, in the second quarter, compared with earnings of $566 million, or 70 cents a share, a year ago. Analysts expected a loss of 22 cents a share. Revenue was $14.99 billion in the quarter, up from $14.68 billion a year ago and slightly ahead of the $14.97 billion Thomson First Call consensus. Boeing shares were down $3.05, or 3.6%, at $80.70 in afternoon trading Wednesday. Earnings in the latest quarter were reduced by $1.15 a share by charges. The charges included $571 million, or 75 cents a share, after reserves, for the $615 million legal settlement with the Justice Department, as well as $496 million, or 40 cents a share, for delays in the airborne surveillance system being developed for Australia and Turkey. The charge caused Boeing to tamp down its 2006 net guidance to between $2.40 and $2.55 a share. The consensus estimate for this year is $2.52 a share. For next year, Boeing expects to earn $4.25 to $4.45 a share, up 15 cents from its previous guidance, on sales of $64.5 billion to $65.5 billion. Analysts, cheered by a string of recent victories over Airbus, were already figuring on such an improvement. They pegged 2007 profits at $4.49 a share on sales of $65.41 billion. "The bulk of our business has once again generated strong performance, with revenue on track and outstanding cash flow," said CEO James McNerney on a conference call. He credited strong sales at Boeing Commercial Airplanes, which has an order backlog of $142 billion and "remains our growth catalyst."