Dow component Boeing's stock surged Wednesday after the company reported year-end results that smashed Wall Street's expectations, with record revenue and airplane deliveries driving the blowout.
Boeing reported a massive fourth-quarter earnings result of an adjusted $5.48 per share, beating expectations in a Refinitiv survey of analysts by 91 cents. Revenue was also strong, at $28.3 billion — more than $1 billion than analysts expected.
The aerospace giant reported $101.1 billion in annual revenue, breaking the $100 billion mark for the first time. Boeing also provided a strong 2019 forecast. Boeing expects next year's earnings of $19.90 to $20.10 per share. Wall Street was expecting $18.31 a share for full-year 2019 earnings.