Boeing Co (NYSE:BA) stock was flying high today following the release of its earnings report for the fourth quarter of 2017.
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During the fourth quarter of the year, Boeing Co reported earnings per share of $4.80. This is a major increase over its earnings per share of $2.47 from the same time last year. It was also a boon to BA stock by beating out Wall Street’s earnings per share estimate of $2.89 for the period.
Boeing Co reported net income of $3.13 billion for the fourth quarter of the year. The company’s net income from the same quarter of the previous year was $1.63 billion. Operating income for the quarter was $3.03 billion, compared to $2.18 billion in the fourth quarter of 2016.
More good news for BA stock comes with its $25.37 billion in revenue for the fourth quarter of 2017. This is up from its revenue of $23.29 billion that was reported in the same period of the year prior. It also came in well above analysts’ revenue estimate of $24.69 billion for the quarter.
BA stock also likely got a boost from Boeing Co’s strong guidance for the full year of 2018. The airplane maker says that it is expecting earnings per share for the year to range from $13.80 to $14.00. Wall Street is looking for earnings per share of $11.96 in 2018.
When it comes to 2018 revenue, Boeing Co is expecting to report between $96 and $98 billion. This would have it easily beating out analysts’ revenue estimate of $93.45 billion for the full year of 2018.
BA stock was up 5% as of Wednesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.