Strong Jet Deliveries Lift Boeing Profit 38%

April 22, 2015 2:13 PM

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Shares of Boeing Boeing are sliding in early Wednesday trading after the jetmaker posted higher than expected profit — thanks to strong airplane deliveries in the first quarter — but revenue that was dragged below Wall Street expectations due to lagging sales from company’s defense division.

Boeing reported Wednesday morning that it recorded $22.1 billion in first quarter revenue, an 8% increase over sales reported this time last year but a figure that fell just under the $22.6 billion analyst consensus. Net income for the quarter came in at $1.3 billion — a whopping 38% boost over prof...

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