Boeing profit gets boost from increased deliveries

Reuters With CNBC
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Boeing reported a 52 percent increase in quarterly profit, helped by a rise in commercial aircraft deliveries.

The company's net income rose to $1.65 billion, or $2.24 per share, in the second quarter ended June 30, from $1.09 billion, or $1.41 per share, a year earlier.

Core earnings, which exclude some pension and other costs, rose to $2.42 per share from $1.67.

Commercial aircraft deliveries rose 7 percent to 181.

Revenue rose 1 percent to $22.05 billion.

For 2014, the company said it expects core earnings of $7.90 to $8.10 per share, up from its previous forecast of $7.15 to $7.35 per share.

After the earnings announcement, the company's shares traded higher in premarket trading. (Click here to get the latest quote.)

Analysts had expected Boeing to report earnings of $2.01 a share on $22.23 billion in revenue, according to a consensus estimate from Thomson Reuters.

Increasing demand from low-cost airlines and booming airline travel in Asia—and China in particular—prompted Boeing in July to raise its forecast for new airplanes. The company expects more than 36,000 new airplanes to be built over the next 20 years.

By Reuters. CNBC contributed to this report.