Boeing profit up on stronger airliner sales

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Báo Tuổi Trẻ English - 32 month(s) ago 6 readings

Boeing profit up on stronger airliner sales

Boeing Co, the world's largest aerospace and defense company, posted a higher quarterly net profit on Wednesday, helped by an increase in commercial airplane deliveries, and raised its earnings forecast for the year.

Boeing Engineers stand next to the Boeing Dreamliner 787-800 after making its first landing at the Jomo Kenyatta airport in Kenya's capital Nairobi, December 14, 2011. Photo: Reuters

Boeing Co, the world's largest aerospace and defense company, posted a higher quarterly net profit on Wednesday, helped by an increase in commercial airplane deliveries, and raised its earnings forecast for the year.

The company said its first-quarter net profit was $923 million, or $1.22 per share, compared with $586 million, or 78 cents per share, a year earlier.

The company, which competes with EADS unit Airbus for orders, said revenue rose 30 percent to $19.4 billion, topping expectations for $18.4 billion. The company said its order backlog at the end of the quarter was $380 billion, up from $356 billion at the beginning of the year.

The company increased its profit forecast for 2012 to a range of $4.15 per share to $4.35 per share. The previous upper end of the range had been $4.25 per share. The company reaffirmed its 2012 revenue outlook, which is in a range of $78 billion to $80 billion.

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