The world’s largest aerospace company by sales on Wednesday reported forecast-beating profit for the third quarter and raised its revenue and profit outlook for the year.
Its shares gained ground after an investor call, climbing more than 3% recently as the company reassured shareholders that a more aggressive approach to bidding on some defense deals wouldn’t hurt its closely watched future cash flows. The stock, the largest component on the Dow Jones Industrial Average, has advanced more than 20% this year.
Boeing is racing to meet global demand for commercial aircraft. Global passenger traffic rose 6.8% annually through August of this year, according to the company, while cargo traffic increased 4% over that period. more