CHICAGO -- Boeing Co. says it earned $1.2 billion in the first quarter, a 38 percent increase from the same period last year as its backlog of orders grew to a new record of $346 billion.
The airplane maker said Wednesday its profit was $1.62 per share for the quarter ending March 31. That compares with $877 million, or $1.13 cents per share, a year earlier.
Revenue rose 4 percent to $16 billion. But that was short of Wall Street's revenue expectations.
On average, analysts surveyed by Thomson Financial expected the world's No. 2 commercial airplane maker to earn $1.35 per share on $16.5 billion in revenue.
The Chicago-based aerospace company also reaffirmed its 2008 guidance.
© 2008 Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.
|
