Boeing earnings spike in 4Q amid slowdown in sales

Boeing earnings

The aerospace giant in US prevented a crash and remained touching the clouds.

Despite a reported huge drop on its military sales, Boeing still posted better-than-expected earnings in the fourth quarter lifted by its Commercial Aircraft segment, based on the data released by the firm on Wednesday.

Gliding High

Boeing relied heavily to its commercial aircraft deliveries, which tallied 926 aircraft in the whole 2016, to book reported earnings of $2.47 per share, smashing the analysts’ estimates of just $2.32 per share, from a 59% surge in its fourth quarter earnings amounting to $1.6 billion, beating expectations.

This key rise on the earnings for the final months of the previous year was steered by strong deliveries on commercial segments, which tallied 926 aircrafts over the full year and one time charge in the latter part of 2015, helping the firm to gain 1% gain in its revenue.

For 2017, the aerospace giant projected its aircraft deliveries to jump in a range of 760 to 765, surpassing the 748 record in 2016, as the company keeps their focus on working through a pileup of orders.

The recent report from the firm sparked its shares in the stock market to rally over 5% higher to close at $168.43, which propelled the closely watched Dow Jones industrial average to finished above the historical 20000-mark.

Boeing has been helping the blue chip in its campaign to cross the record-setting level as it had gained key strengths since the victory of Trump in the November 8 elections.

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