Boeing profit beats forecast

27/07/11 19:36 CET

corporate

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Boeing’s quarterly profit came in much better than expected at $941 million (655 million euros).

The world’s largest aerospace and defence company said that was because it had improved operating profit and managed to contain costs.

Boeing’s commercial aircraft revenue rose 19 percent while the defence, space and security business reported revenue down four percent.

The company also raised its 2011 earnings forecast, but the range it gave was still slightly below the average estimate of aviation industry analysts.

Boeing reaffirmed that first deliveries of the long-awaited 787 Dreamliner and 747-8 Freighter are expected later in the third quarter but trimmed its expected deliveries for the two programmes to a combined 25 to 30 planes units from 25 to 40.

It expects to deliver between 485 and 495 commercial planes this year, down from a previous prediction of 485 to 500.

More about: Airlines, Boeing, Profits, USA

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