Boeing 4Q profit rises on strong demand for planes; deliveries to rise 10 per cent this year - InfoNews

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Boeing 4Q profit rises on strong demand for planes; deliveries to rise 10 per cent this year

FILE - In this Thursday, Dec. 19, 2013, file photo, workers assemble Boeing 787 Dreamliners in the company's massive assembly plant in North Charleston, S.C. Boeing reports quarterly financial results on Wednesday, Jan. 29, 2014. (AP Photo/Bruce Smith, File)
January 29, 2014 - 5:01 AM

Boeing's fourth-quarter profit rose 26 per cent as it delivered more commercial airplanes — a speedup that it says will continue this year.

Boeing says it will deliver 715 to 725 planes this year, a boost of at least 10 per cent from last year.

In the fourth quarter, Boeing Co. earned $1.23 billion, or $1.61 per share, well ahead of expectations of analysts surveyed by FactSet. Profits grew in both its commercial airplane and defence businesses.

Revenue rose 7 per cent to $23.79 billion.

Orders from airlines around the world have pushed both Boeing and competitor Airbus to build more planes than ever before.

Its shares slipped in premarket trading, however, as earnings guidance for this year missed estimates.

News from © The Associated Press, 2014
The Associated Press

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