Boeing quarterly profit falls, but beats forcast

CHICAGO: Boeing Co reported a higher-than-expected quarterly net profit on Wednesday, but the results were down from a year earlier on fewer airplane deliveries.

The world's second-largest airplane maker after Airbus said its second-quarter net profit fell to $787 million, or $1.06 per share, from $998 million, or $1.41 per share, a year earlier.

The results beat a Wall Street consensus estimate of $1.01 per share, according to Thomson Reuters I/B/E/S.

Revenue slipped 9 per cent to $15.6 billion. Revenue from the commercial airplane division declined 12 per cent to $7.4 billion on 9 per cent fewer airplane deliveries. Boeing Commercial Airplanes booked 88 orders in the quarter, while 20 were removed.

The commercial order backlog amounted to 3,304 airplanes valued at $252 billion.

Revenue from the defense unit fell 8 per cent to $8 billion on lower Network & Space Systems volume.

Revenue from Boeing Capital declined 3 per cent to $162 million.