Boeing reports 4Q profit of $1.47 billion on airplane sales

CHICAGO (AP) — Demand for commercial jets airliners boosted Boeing Co.'s fourth-quarter profit by 19 percent, topping Wall Street expectations by a wide margin and offsetting weakness in the defense business.

Boeing offered a muted outlook for 2015, however. Falling oil prices, which make jet fuel much cheaper, might hurt airlines' demand for new, more fuel-efficient planes.

The shares rose in pre-market trading before today's opening bell.

Boeing said that it earned $1.47 billion, or $2.02 per share, compared with $1.23 billion, or $1.61 per share, a year ago.

Excluding special items, Boeing said that so-called core earnings rose to $2.31 per share. Analysts expected $2.11 per share, according to FactSet.

Revenue rose 3 percent to $24.47 billion, also beating FactSet's Street forecast of $23.93 billion.

Boeing said, however, that adjusted earnings this year will be between $8.20 and $8.40 per share.