Boeing reports profit of $1.47 billion

Boeing reports profit of $1.47 billion

Demand for commercial airliners boosted Boeing Co.'s fourth-quarter profit by 19%, topping Wall Street expectations by a wide margin and offsetting weakness in the defense business.

Investors seemed to look past Boeing's muted outlook for 2015. The company said that adjusted earnings this year will be between $8.20 and $8.40 per share. That is below analysts' forecast of $8.66 per share, according to a FactSet survey. But the company expects 2015 revenue of $94.5 billion to $96.5 billion, which would easily beat analysts' consensus expectation of $93.25 billion.

Chicago-based Boeing and European rival Airbus have gained as airlines around the world went on a shopping spree,...