Boeing Beats Earnings Expectations, Boosts Guidance, Stock Jumps

Boeing's Q2 financial results are out, and the numbers look strong.

Adjusted earnings per share came in at $1.67 per share, which was far ahead of the $1.58 expected.

Revenue came in at $21.8 billion, which was stronger than the $20.7 billion expected.

The stock is up 3% in pre-market trading.

For the full year, management expects to earn $6.20-$6.40, up from a previous range of $6.10-$6.30. This is on revenue of $83 billion to $86 billion, up from $82 billion to $85 billion.

"Continued strong core operating performance drove higher earnings, revenue and operating cash flow during the quarter, and we returned significant value to shareholders through share repurchases and increased dividends," said CEO Jim McNerney.

"We also further strengthened our market-leading position in commercial airplanes with the successful launch of the 787-10 and $40 billion of new orders, while our defense, space and security business delivered improved margins and market share in a tough market. Overall, our strong first-half performance and positive outlook allows us to raise our 2013 earnings and revenue guidance, and our team remains intensely focused on execution, productivity and quality to meet our customer commitments and further drive growth."

More to come...