Boeing beats 1Q net income expectations, misses revenue forecasts

MarketsAssociated Press

Boeing Co. (BA) on Wednesday reported first-quarter earnings of $1.34 billion.

The Chicago-based company said it had profit of $1.87 per share. Earnings, adjusted for non-recurring costs, came to $1.97 per share.

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The results topped Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.81 per share.

The airplane builder posted revenue of $22.15 billion in the period, which missed Street forecasts. Six analysts surveyed by Zacks expected $22.63 billion.

Boeing expects full-year earnings in the range of $8.20 to $8.40 per share, with revenue in the range of $94.5 billion to $96.5 billion.

Boeing shares have increased 18 percent since the beginning of the year, while the Standard & Poor's 500 index has increased almost 2 percent. The stock has increased 20 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 http://www.zacks.com/ap/BA

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Keywords: Boeing, Earnings Report, Priority Earnings