Boeing said today its quarterly profit increased more than expected, driven by growth in defence programs.
The world's second largest planemaker said second-quarter net profit rose to $998 million, or $1.41 per share, from $852 million, or $1.16, a year earlier. Analysts expected profit of $1.21 per share, according to Reuters Estimates.
Its 2009 earnings forecast was unchanged between $4.70 and $5 per share.
Total revenue increased 1 per cent to $17.15 billion. Revenue from its commercial airplane division decreased 2 per cent to $8.4 billion on lower deliveries.
Revenue from the integrated defence systems unit rose 9 percent to $8.7 billion. Revenue from Boeing Capital increased 7 per cent to $167 million.
The commercial unit booked 57 gross orders during the quarter, while 52 others were removed from its order book.
Boeing said its backlog was $328 billion, down 3 per cent from a year ago. Chicago-based Boeing and rival Airbus are being hit hard as carriers and cargo operators grapple with a recession in many parts of the world.