Boeing 2nd-quarter profit increases 52 percent, beats estimate

MarketsAssociated Press

Boeing Co. (BA) on Wednesday reported profit that increased by 52 percent in its second quarter, and topped analysts' expectations.

The Chicago-based company said net income increased to $1.65 billion, or $2.24 per share, from $1.09 billion, or $1.41 per share, in the same quarter a year ago.

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Earnings, adjusted for non-recurring costs, came to $2.42 per share. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $2.02 per share.

The company said revenue climbed 1.1 percent to $22.05 billion from $21.82 billion in the same quarter a year ago, and missed Wall Street forecasts. Analysts expected $22.32 billion, according to Zacks.

Boeing shares have declined $6.75, or 4.9 percent, to $129.74 since the beginning of the year, while the Standard & Poor's 500 index has climbed 7.3 percent. However, the stock has climbed $21.95, or 20 percent, in the last 12 months.

This story was generated automatically by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Full BA report: http://www.zacks.com/ap/BA

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Keywords:Boeing,Earnings Report