Shares of aerospace giant, Boeing, gained over 6.5% and traded at an all-time high of $168.65 as the firm announced better-than-expected Q4 earnings.
The company reported Q4 earnings of $2.47 per share versus analysts’ estimates of $2.32 per share. On the revenue side, Boeing announced $23.3 billion against expectations of $23.1 billion.
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Even though revenue from military orders fell by 18% from the same quarter in 2015, the company still said that it delivered 926 commercial and defence aircraft over the full year.
The company’s outlook for 2017 EPS came in at $9.10 to $9.30, with the top end of this range reflecting a 6% decline from FY 2016 EPS of $9.90 per share.
This lower forward guidance will likely temper further gains beyond the $172.50 level.
