Boeing's quarterly loss more than halved and was much smaller than analysts expected as the U.S. planemaker ramped up jet deliveries, recovering from a regulatory crisis and a major strike that halted most production last year.

Boeing's military aircraft production is facing potential disruption after defense workers in St. Louis rejected the company's latest contract proposal.

Boeing reported better-than-expected second-quarter earnings. Shares are rising as investors gain confidence in the company’s turnaround.The commercial jet maker on Tuesday announced a loss per share of $1.