Boeing is topping expectations for the third quarter and raising its outlook for the year on burgeoning defense spending.

Shares are up more than 2 percent before the opening bell Wednesday.

The Chicago plane maker had a profit of $2.36 billion, or $4.07 per share. Adjusted per-share profit was $3.58, exceeding estimates by 13 cents, according to a survey by Zacks Investment Research.

Revenue was $25.15 billion, also breezing past projections for $23.72 billion.

FILE- In this April 6, 2018, file photo the logo for Boeing appears above the post where it trades on the floor of the New York Stock Exchange. Boeing Co. reports earnings Wednesday, Oct. 24. (AP Photo/Richard Drew, File)

Boeing Co.’s earnings projections are now between $14.90 and $15.10 per share for 2018, up from $14.30 to $14.50, with revenue in the range of $98 billion to $100 billion.

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Source: The Associated Press

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