Boeing this afternoon reported a higher-than-expected second-quarter profit compared with a year-ago loss, and raised its full-year forecast as it ramped up delivery of its hot-selling commercial planes and defense sales remained strong.
Its shares jumped as much as 6 per cent to an all-time high of $110 in electronic trading before the bell, later paring those gains to $106.63.
Boeing, which vies with Airbus for the title of world's biggest plane maker and is the Pentagon's number 2 supplier, reported quarterly profit of $1.1 billion, or $1.35 per share, compared with a loss of $160 million, or 21 cents per share, in the year-ago quarter.
Revenue rose 14 per cent to $17 billion.
That easily beat Wall Street's earnings forecast of $1.16 per share, on average, on revenue of $16.01 billion.
Boeing reported a loss in the year-ago quarter after taking more than $1 billion in charges for settling federal investigations into its defense procurement practices and the costs of a delayed military aircraft program.
The Chicago-based company's commercial aircraft unit reported sales rose 22 per cent to $8.7 billion, helped by increased plane deliveries, which is when the company gets most of an airline's payment for a plane.
Boeing delivered 114 commercial planes in the quarter, up 18 per cent from the year before, reflecting a three-year surge in orders that allowed it to reclaim the title of biggest-selling plane maker from its European rival last year.
It kept its forecast for 440 to 445 plane deliveries this year, and 515 to 520 next year.
Boeing's overall research and development (R&D) costs rose sharply over the year-ago quarter, by 34 percent to $989 million, as it raced to get its new 787 Dreamliner ready for its first public viewing earlier this month.
The lightweight, fuel-efficient plane -- which has racked up almost 700 orders before it has even left the ground - is still set for its first test flight in September and for first delivery next May.
However, the company raised its forecast for full-year R&D costs to $3.7 billion from a range of $3.2 billion to $3.4 billion, as it projects more work to keep the 787 on schedule.
Boeing's defense unit, which makes F-15 fighter jets and C-17 military transport planes, reported sales rose 3 per cent to $8 billion, helped by more plane deliveries and higher sales military support services.