Boeing Profits Beat Views on More Jet Sales

Boeing posted an $837 million third-quarter profit on Wednesday and raised its profit guidance for the full year as it sold more commercial airplanes.

Boeing has already made plans to raise production rates on the 737, its best-selling plane. The improved 2010 guidance reflects a strong outlook for commercial planes. Airlines had pulled back on orders during the recession, and deliveries dipped last year. But orders and deliveries have been recovering this year.

Boeing expects to deliver 460 commercial planes this year, at the low end of what it predicted in April.

The aircraft maker is also working to deliver the first 787 and a new cargo version of the 747. The 787 is running more than two years behind schedule, and the 747-8 is also late.

Boeing’s revenue for the quarter that ended Sept. 30 rose 2 percent to $16.97 billion. Net income worked out to $1.12 per share. Analysts surveyed by Thomson Reuters were expecting a profit of $1.06 per share on revenue of $16.81 billion.

Shares rose 2.1 percent in premarket trading.

During the third quarter last year, Boeing lost almost $1.6 billion as it took charges because of delays for the 787 and 747-8.

The company says it now expects to earn $3.80 to $4 per share for the full year. It expects revenue of $64.5 billion to $65.5 billion. Analysts were expecting a profit of $3.96 per share on revenue of $64.5 billion.

JOSHUA FREED, AP Business Writer MINNEAPOLIS