Boeing beats 1Q profit expectations

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Boeing Headquarters

CHICAGO  — Boeing Co. is reporting a first-quarter profit of $1.45 billion.

The Chicago-based company said it had net income of $2.34 per share. Earnings, adjusted for non-recurring gains, came to $2.01 per share.

The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.91 per share.

The airplane builder posted revenue of $20.98 billion in the period, falling short of Street forecasts. Five analysts surveyed by Zacks expected $21.44 billion.

Boeing expects full-year earnings in the range of $9.20 to $9.40 per share.