Boeing and Nasdaq released their latest earnings reports before opening bell this morning. Boeing reported adjusted earnings of $3.51 per share on $23.9 billion in sales. Analysts had been expecting $2.61 per share in earnings and $23.6 billion in revenue.
Nasdaq reported non-GAAP earnings of 91 cents per share on $585 million in revenue, marking an 11% year over year increase. Analysts had been projecting 90 cents per share in earnings and $586.2 million in revenue.
Boeing raises guidance
Boeing’s GAAP earnings rose to $3.60 per share from $2.47 per share in last year’s third quarter. The company’s backlog is still robust at $462 billion and more than 5,600 orders for commercial airplanes. It delivered 188 commercial airplanes during the third quarter, compared to 199 last year. Commercial Airplanes revenue fell to $17 billion on lower planned delivery volume.
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Defense, Space & Security revenues amounted to $7.5 billion, including $3.3 billion in Boeing Military Aircraft, $1.7 billion in Network & Space Systems revenue and $2.5 billion in Global Services & Support revenue.
Boeing also increased its outlook for the year, boosting its full-year sales guidance by $500 million to a new range of $93.5 billion to $95.5 billion. The airplane manufacturer also boosted its full-year GAAP earnings outlook to a range of $7.10 to $7.30 per share from $6.40 to $6.60 per share. Boeing’s full-year adjusted earnings guidance moves to between $6.80 and $7 per share from $6.10 to $6.30 per share. The full-year consensus estimates currently stand at $94 billion in sales and $6.34 per share in earnings.
Shares of Boeing jumped by as much as 1.06% to $140.50 in premarket trades.
Nasdaq sees record revenues
Nasdaq’s GAAP earnings were 77 cents per share. Subscription and recurring revenues for the third quarter hit a new record and made up 75% of total net revenues. The firm’s Information Services, Technology Solutions and Listing Services all set new records for net revenues.
Market Services revenues rose to $213 million, while Equity Derivatives revenues grew to $67 million. Cash Equities revenues declined to $59 million, while Commodities Trading and Clearing revenues declined to $18 million. Information Services revenues rose to $137 million, Technology Solutions revenues grew to $167 million, and Listing Services revenues increased to $68 million.
As of the end of September, the firm had achieved $23 million in annualized run-rate cost synergies for the acquisitions it completed this year. It is targeting $60 million by the time the integration is complete.
Shares of Nasdaq edged upward by as much as 0.06% to $66.40 in premarket trades this morning.