Boeing's big earnings boost sends shares flying higher

Plane-maker Boeing reported a significant rise in its quarterly earnings on Wednesday before the bell, easily exceeding estimates given by analysts ahead of the report.

Shares in the US company surged 3.4% in pre-market trade after the news as investors were impressed with the figures.

Earnings for the third quarter rose to $2.3bn ($3.60 per share) from $1.7bn ($2.47 per share) a year earlier. Adjusted earnings per share were at $3.51, well above expectations of $2.61.

Boeing's yearly guidance has been adjusted as a result of the strong showing. While its annual forecast was previously at between $6.10 and $6.30 per share, it now sits at between $6.80 and $7.00 per share.

The world's largest jetliner also increased its commercial aeroplanes delivery guidance for the year, to 745-750 from 740-745.

Boeing has been engaged in an ongoing battle involving main rival Airbus, as the USA and the European Union fight each companies' corner regarding a dispute over government subsidies.

The World Trade Organisation last month ruled that European countries had given millions of dollars in illegal state aid to Airbus, and the EU has accused the US of doing the same.