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Boeing reports improved profits as demand improves

Boeing Co. has reported improved profits in the most recent quarter. The company said that the profits were up by 29 percent, as sales of its commercial planes countered the falling profits at its defense division.
Boeing competes in the market against Europe based Airbus. They reported in their revenue statement that quarterly profits were at $692 million, or 88 cents per share. This is an improvement from $535 million, or 66 cents per share, in the year-ago quarter.
The revenue itself was up by around 12 percent to $14.26 billion. This was somewhat below what the market expected ($14.6 billion). Market analysts believe that this was mainly because of lower defense unit sales.
Boeing delivered 98 planes in this period. This is an improvement from 70 planes in the year-ago period. It also received a record order of 1,002 commercial planes last year. The first three months of the year saw additional orders of 176 planes.