Boeing's 2Q Profit Rose 20 Percent
Boeing Co. says its second-quarter profit rose almost 20 percent as it delivered more commercial airplanes. The company raised its outlook for the full year.
The big airplane maker and defense contractor also says it will not deliver as many of its new 787s and 747-8s this year as previously hoped. It now expects to deliver 25 to 30 of the planes, down from an earlier projection for as many as 40.
Boeing earned $941 million, or $1.25 per share. Revenue rose 6.2 percent to $16.54 billion. That topped the expectations of analysts surveyed by FactSet, who predicted net income of 98 cents per share on revenue of $16.47 billion.
The company raised its 2011 outlook by 10 cents to $3.90 to $4.10 per share.