Boeing beats 4Q profit forecasts

Markets Associated Press

Boeing Co. (BA) on Wednesday reported fourth-quarter net income of $1.63 billion.

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On a per-share basis, the Chicago-based company said it had net income of $2.59. Earnings, adjusted for non-recurring gains, came to $2.47 per share.

The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $2.34 per share.

The airplane builder posted revenue of $23.29 billion in the period, falling short of Street forecasts. Five analysts surveyed by Zacks expected $23.45 billion.

Boeing expects full-year earnings in the range of $9.10 to $9.30 per share, with revenue in the range of $90.5 billion to $92.5 billion.

Boeing shares have increased 3 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed roughly 2 percent. The stock has climbed 29 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BA at https://www.zacks.com/ap/BA

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Keywords: Boeing, Earnings Report, Priority Earnings