Boeing Profit Beats Estimates, Sales Fall Short

The Boeing Co. shares rose slightly in premarket trade, after the company beat first-quarter profit estimates and reaffirmed its outlook for the full year. The aerospace giant said it had net income of $1.336 billion, or $1.87 a share, in the quarter, up from $965 million, or $1.28 a share, in the year-earlier period. Adjusted per-share earnings came to $1.97, well ahead of the FactSet consensus of $1.80. Revenue rose to $22.149 billion from $20.465 billion, but lagged the FactSet consensus of $22.541 billion. Boeing is still expecting full-year adjusted EPS of $8.20 to $8.40 and revenue of $64.5 billion to $65.5 billion. Shares have gained 18% in the year to date, while the Dow Jones Industrial Average is up 0.7%.