Boeing profit jumps on higher jet deliveries

An employee works on the nose of a Boeing airplane at the company's facility in Everett, Washington.
Mike Kane | Bloomberg | Getty Images

Boeing delivered quarterly earnings that topped analysts' expectations on Wednesday, helped by rising demand for commercial aircraft.

Boeing shares fell in premarket trading following the announcement. (Get the latest quote here.)

Net income rose to $1.34 billion, or $1.87 per share, in the first quarter ended March 31, from $965 million, or $1.28 per share, a year earlier. Core earnings, which exclude pension and other costs, rose to $1.97 per share from $1.76.

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Revenue rose to $22.1 billion from $20.47 billion a year ago.

Wall Street forecast Boeing would deliver quarterly earnings of $1.81 a share on $22.48 billion in revenue, according to a consensus estimate from Thomson Reuters.

Commercial aircraft deliveries rose 14 percent to 184.

The company also reaffirmed its guidance for operating cash flow of $9 billion in 2015.

Boeing said it sees full-year earnings per share of $8.20 to $8.40.

Earlier this month the company announced a historic deal with Panama's Copa Airlines for 61 737 MAX 8 and MAX 9 airplanes. Valued at $6.6 billion, the order is the largest commercial transaction between companies of the two countries.

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Last week Boeing showcased roomier luggage bins to be available on 737 aircrafts. Space Bins, as they are called, can hold six standard sized bags. That would allow for a total of 194 bags on the plane compared to 132 in the current bin configuration.

During the past year, shares of Boeing climbed almost 20 percent.

CNBC's Terri Cullen and Reuters contributed to this report.