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UPDATE 1-Boeing raises forecast as third-quarter profit jumps

Wednesday, 23 Oct 2013 | 8:36 AM ET

Oct 23 (Reuters) - Boeing Co reported a 12 percent jump in profit per share and raised its full-year forecast, sending its shares up more than 3 percent in premarket trading.

Net income rose to $1.51 a share from $1.35 a year ago as revenue increased 11 percent to $22.13 billion, it said on Wednesday. The gain came largely from a 14 percent surge in aircraft deliveries.

Core earnings, which exclude some pension and other costs, jumped 16 percent to $1.80 a share from $1.55.

Boeing raised its full-year core earnings forecast to between $6.50 and $6.65 a share from a previous outlook of $6.20 to $6.40.

It also lifted the forecast for unadjusted 2013 earnings to between $5.40 and $5.55 a share from $5.10 to $5.30.

It left unchanged its full-year revenue forecast at between $83 billion and $86 billion, and its target for delivering between 635 and 645 commercial aircraft for the full year.

In the first nine months, Boeing delivered 476 planes, including 170 in the latest quarter. That means it needs to deliver 169 in the fourth quarter to hit the top end of its target.

The stock rose to $126.30 in premarket trading from a close of $122.48 in New York on Tuesday.

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