Raytheon has become the latest company to hit the recruiting jackpot by raising its quarterly earnings guidance.
The aerospace and defense giant, which has long had a tough time making money from its core military customers, announced Thursday that its revenue for the second quarter will be $1.6 billion, up from $1 billion a year ago.
That’s a 23% increase from the $1,475 million the company reported last quarter.
That’s up from a $1 million revenue increase in the same quarter a year earlier, according to Thomson Reuters.
The company also added about 20,000 jobs during the second half of 2016.
That doesn’t include its gains from the sale of its $1-billion weapons manufacturing business to China Aerospace Science and Technology Corp. The deal is expected to close in the first quarter of 2017.
Raytheons stock has soared in recent weeks, hitting a record high on Wednesday.
Raytheon, based in Arlington, Virginia, was the biggest winner of the $2.3 billion merger with Boeing, which was announced earlier this year.
It will have about 1,500 employees at its headquarters in Virginia.
The new company will make the first batch of 787 Dreamliners, the planes used by the Pentagon and other federal agencies.