In a week when dreadful earnings reports have weighed heavily on Wall Street, Boeing Co. (IW 500/16) provided a lift with an upward revision in its full-year guidance and third-quarter results that topped analysts' estimates.

Chicago-based Boeing said its third-quarter revenue jumped 13% year-over-year, from $17.7 billion to $20 billion.

Meanwhile, third-quarter earnings per share dropped 6% to $1.35, although topping Wall Street expectations.

"Strong core operating performance drove increased earnings in both our major businesses, along with higher overall revenues, improved cash flow and solid earnings per share even as pension headwinds rose," Boeing Chairman and CEO Jim McNerney said in a news release.  

Boeing's Defense, Space & Security division "maintained double-digit margins in a challenging environment," McNerney added, while its Commercial Airplanes business saw a 28% year-over-year jump in revenue, to $12.2 billion, and a 6% uptick in earnings.

Boeing raised its full-year EPS guidance to between $4.80 and $4.95, up from its previous guidance of between $4.40 and $4.60.

The company raised its revenue guidance to between $80.5 billion and $82 billion on higher defense sales, up from its previous guidance of between $79.5 billion and $81.5 billion.