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Boeing reports 837 million dollars in Q3 net profit, raises 2010 outlook

10-21-2010 08:44 BJT

CHICAGO, Oct. 20 (Xinhua) -- The Chicago-based aerospace giant Boeing Co. said on Wednesday that its net profit in the third quarter totaled 837 million U.S. dollars, or 1.12 dollars per share, compared with a loss of 1.564 billion dollars one year earlier.

Meanwhile, the company raised its forecast for the 2010 earnings per share to 3.8-4 dollars and operating cash flow to over 1.5 billion.

"Our results and revised outlook reflect the continued strong performance of our commercial production and services programs and the ability of our defense businesses to produce solid results in a challenging environment," said Jim McNerney, president and CEO of Boeing, on a call with analysts.

Boeing on Wednesday reported its financial results for the third quarter, showing that it raked in 16.967 billion dollars of revenue, compared with 16.688 billion dollars for the same period of 2009.

Besides, the quarterly operating cash flow amounted to 1.9 billion dollars, bringing the total for the first nine months of the year to 1.8 billion dollars. The cash and marketable securities reached 10 billion dollars.

Shares of Boeing increased 3.35 percent to 71.36 dollars on Wednesday while the NYSE composite index climbed 1.35 percent. Over the past year, the stock has gained more than 38 percent.

Editor:Xiong Qu |Source: Xinhua

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