US aircraft maker Boeing Co (NYSE:BA) has reported a rise in first quarter earnings and reaffirmed its full-year forecast for commercial airplane deliveries, although its sales came in below expectations.
The NYSE-listed company posted net income of US$1.45bn, or US$2.34 a share in the first quarter, up from US$1.22bn, or US$1.83 a share a year earlier.
On an adjusted basis, earnings per share were US$2.01, ahead of the consensus forecast for US $1.91.
But Boeing’s revenue fell to US$20.9bn in the first quarter, down from US$22.6bn a year earlier, below the consensus estimate of US$21.3bn.
Reaffirm full-year forecast for commercial airplane deliveries
Commercial aircraft deliveries fell to 169 in the first quarter, down from 176 last year, but the world's biggest maker of jetliners said it continues to expect to deliver 760-765 commercial aircraft in 2017.
Dennis Muilenburg, Boeing’s chief executive, said: “We remain on track to achieve our full-year revenue, earnings and cash flow targets as our teams deliver on our large and diverse order backlog."
Boeing shares, which have gained 19% so far in 2017, were 1.4% lower in pre-market trading at US$181.