Boeing's profit surges 13% in Q1
By Kyle Peterson |
April 28, 2011, Thursday
|
Print Edition
Print Edition
BOEING Co's first-quarter profit rose 13 percent, topping Wall Street expectations, although revenue slipped 2 percent.
The world's largest aerospace and defense company said yesterday its first-quarter profit came to US$586 million, or US 78 cents per share, against US$519 million, or US 70 cents per share, a year earlier when the company took a 20-cent-per-share charge related to health care legislation.
Analysts on average expected Boeing to report a first-quarter profit of 70 US cents per share, according to Thomson Reuters.
Revenue slid 2 percent to US$14.9 billion.
Boeing, which competes with EADS unit Airbus, splits its business almost evenly between commercial airplanes and defense products.
Boeing Commercial Airplanes first-quarter revenue fell 5 percent to US$7.1 billion on planned lower 777 deliveries.
Boeing repeated that first delivery for the long-delayed 787 Dreamliner was on track for the third quarter.
Boeing Defense, Space & Security's first-quarter revenue was US$7.6 billion, in line with the year-ago quarter.
The world's largest aerospace and defense company said yesterday its first-quarter profit came to US$586 million, or US 78 cents per share, against US$519 million, or US 70 cents per share, a year earlier when the company took a 20-cent-per-share charge related to health care legislation.
Analysts on average expected Boeing to report a first-quarter profit of 70 US cents per share, according to Thomson Reuters.
Revenue slid 2 percent to US$14.9 billion.
Boeing, which competes with EADS unit Airbus, splits its business almost evenly between commercial airplanes and defense products.
Boeing Commercial Airplanes first-quarter revenue fell 5 percent to US$7.1 billion on planned lower 777 deliveries.
Boeing repeated that first delivery for the long-delayed 787 Dreamliner was on track for the third quarter.
Boeing Defense, Space & Security's first-quarter revenue was US$7.6 billion, in line with the year-ago quarter.
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