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Business

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Demand for planes boosts Boeing 4Q profit

Boeing's fourth-quarter profit rose 26 percent as it delivered more commercial airplanes — a speedup that it says will continue this year.

Boeing says it will deliver 715 to 725 planes this year, a boost of at least 10 percent from last year.

In the fourth quarter, Boeing Co. earned $1.23 billion, or $1.61 per share, well ahead of expectations of analysts surveyed by FactSet. Profits grew in both its commercial airplane and defense businesses.

Revenue rose 7 percent to $23.79 billion.

Orders from airlines around the world have pushed both Boeing and competitor Airbus to build more planes than ever before.

Its shares slipped in premarket trading, however, as earnings guidance for this year missed estimates.

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