Boeing Co.’s (NYSE: BA) stock surged Wednesday after the Company reported year-end results that beat Wall Street’s expectations, with record revenue and airplane deliveries driving the gain.

Boeing reported a massive fourth quarter earnings result of an adjusted USD 5.48 per share, beating Refinitiv estimates by 91 cents. Revenue was also strong, at USD 28.3 Billion - more than USD 1 Billion than analysts expected.

The aerospace giant reported USD 101.1 Billion in annual revenue, breaking the USD 100 Billion mark for the first time. Boeing also provided a strong 2019 forecast, expecting next year’s earnings of USD 19.90 to USD 20.10 per share. Wall Street was expecting USD 18.31 per share for the full year.

Fourth-quarter earnings from operations jumped 40% from a year earlier as margins expanded. The Company posted USD 4.2 Billion in earnings from operations, compared with nearly USD 3 Billion a year earlier.

Boeing shares surged 6.1%, opening trading at USD 387.40 per share.

Trade tensions between the U.S. and China have recently rattled Boeing’s stock, although the Company’s shares largely recovered November and December losses in January after several big contract wins.

Chairman and Chief Executive Officer Dennis Muilenburg said the strong 2018 results were driven by Boeing’s push to untie the Company, with USD 35 Billion invested in “key strategic areas” over the last five years. Muilenburg said the “One Boeing” iniative has made it a more cohesive organization, giving the Company “confidence for continued strong performance, revenue expansion and solid execution across all three business.”

Boeing’s commercial airplanes business delivered a record 806 aircraft last year, just shy of the 810 that Boeing forecast in the third quarter. The Company expects to shatter that record in 2019, saying deliveries will reach 895 to 905 next year.

The jet-making unit’s operating profit increased to 15.6% in the fourth quarter, compared with 11.6% a year earlier. The division also added 262 net orders, with the Company’s total backlog holding steady at over 5,900 airplane orders worth USD 412 Billion.

The Company’s high-margin services business continued to grow, with revenues up 28% from the previous year to USD 4.9 Billion.