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Boeing’s Profit Rises On Higher Deliveries

Posted by Reuters  |  January 28,2015  |  08:15 AM
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8:15 AM


(Reuters) – Boeing Co , the world’s biggest planemaker, reported a 19 percent rise in quarterly profit, helped by booming demand for commercial aircraft.

The company forecast operating cash flow, a metric closely watched by investors, of more than $9 billion for 2015, up from $8.86 billion reported for 2014.

Boeing’s shares rose about 4 percent in premarket trading.

The company’s jetliner deliveries rose to 723 in 2014 from 648 the previous year, topping those by rival Airbus Group .

Commercial aircraft deliveries rose 13 percent to 195 in the fourth quarter ended Dec. 31.

Boeing’s net profit rose to $1.47 billion, or $2.02 per share, in the quarter from $1.23 billion, or $1.61 per share, a year earlier.

Core earnings, which exclude pension and other costs, rose to $2.31 per share from $1.88.

Revenue increased by 3 percent to $24.47 billion.

Boeing forecast core earnings of $8.20-8.40 per share for 2015.

Shares of the Dow-30 component were trading at $137.79 before the bell.

Up to Tuesday’s close, the stock had fallen 3.4 percent in the past 52 weeks, while the Dow Jones Industrial Average <.DJI> has risen 9.2 percent.

(Reporting by Sweta Singh in Bengaluru; Editing by Sriraj Kalluvila and Kirti Pandey)

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