78°

Topics

General Dynamics Corporation
Boeing profit falls 12.7% but it tops analyst forecasts
Boeing profit falls 12.7% but it tops analyst forecasts

Boosted by strong sales, Boeing Co. beat analysts' estimates for its first quarter largely because of faster production of commercial jetliners. The Chicago aerospace giant reported a profit of $965 million, or $1.28 a share. That's down 12.7% from $1.11 billion, or $1.44 a share, a year earlier. Boeing attributed the fall to a $330-million write-off related to changes in its pension plans and a one-time tax credit in 2013. The company's core earnings — excluding retirement costs and the write-off — rose to $1.76 a share, up from $1.73 a share a year earlier. Analysts had expected core profit of $1.56 a share. Investors bought shares on the news. They rose $3.08, or 2.4%, to $130.63....

Loading