Boeing Profits Grow, But Still Fall Short

By: AP
By: AP

CHICAGO (AP) _ Boeing says it earned $1.2 billion in the first quarter, a 38 percent increase from the same period last year.

The plane maker is in the midst of a backlog of orders that has grown to a new record of $346 billion.

Boeing said Wednesday its profit was $1.62 per share for the quarter
ending March 31. That compares with $1.13 cents per share a year

Revenue rose 4 percent to $16 billion, but that was short of Wall Street's revenue expectations. On average, analysts expected Boeing to earn $1.35 per share on $16.5 billion in revenue.

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