Lifted by broad strength across its business units, Boeing managed to slough off the effects of a controversy with one of its marquee planes, as first quarter profit far exceeded Wall Street's expectations.
Recently, Boeing's 787 Dreamliner has been beset by battery problems that caused regulators in the U.S. and Japan to temporarily ground the plane. Analysts were concerned that the problems could erode Boeing's earnings.
Still, the aerospace giant managed to defy market's pessimism. Boeing posted quarterly earnings excluding items of $1.73 per share, a 24 percent jump from the $1.40 per share it saw in the comparable year-ago period. Revenue, however, decreased to $18.89 billion, from $19.38 billion a year ago, reflecting fewer deliveries of its troubled 787 Dreamliner.