Thursday, July 26, 2012

News Summary: Boeing 2Q profit grows 3 percent

THE QUARTER: Boeing Co.'s second-quarter net income grew 3 percent on strong sales of commercial airplanes and improvement in defense unit revenue. Wall Street analysts were expecting profit to fall.

THE YEAR: The company raised its earnings forecast for the year, although their prediction is still mostly under Wall Street's expectations.

HALF AND HALF: Defense revenue rose 7 percent, while revenue in the commercial airplane division jumped 34 percent. Boeing's defense unit is vulnerable to potentially severe military spending cuts, but is holding strong. Boeing's commercial airplane unit, meanwhile, is rapidly speeding production and deliveries of its new 787.

Source: http://news.yahoo.com/news-summary-boeing-2q-profit-grows-3-percent-133103529--finance.html

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