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Apr 25, 2012, 07.26 PM IST

Boeing profit up on stronger airliner sales

Boeing Co, the world's largest aerospace and defence 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.

Source: Reuters
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Boeing profit up on stronger airliner sales
Boeing Co, the world's largest aerospace and defence 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 USD 923 million, or USD 1.22 per share, compared with USD 586 million, or 78 cents per share, a year earlier.


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


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


Tags: Boeing, share, Airbus, EADS, profit
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