Boeing's Stock Rallies After Profit, Sales Beat Forecasts

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Shares of Boeing rallied 4% in premarket trade Wednesday, after the aerospace company reported fourth-quarter profit and sales that rose above expectations, offsetting a mixed 2015 outlook. For the quarter ending in December, net earnings rose to $1.47 billion, or $2.02 a share, from $1.23 billion, or $1.61 a share, in the year-earlier period. Excluding non-recurring items, adjusted earnings per share were $2.31, beating the FactSet consensus analyst estimate of $2.11. Revenue rose 3% to $24.47 billion, above analyst forecasts of $23.93 billion, boosted by a 15% increase in revenue from commercial airlines. For 2015, Boeing is projecting core earnings per share in the range of $8.20 to $8.40 and revenue of $94.5 billion to $96.5 billion, compared with analyst forecasts of $8.66 and $93.25 billion, respectively. The stock, a component of the Dow Jones Industrial Average, has rallied 7.2% over the past three months, while the Dow has gained 2.2%.

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