Boeing 3Q profit rises 61 percent

Boeing 3Q profit rises 61 percent
Boeing 3Q profit rises 61 percent

The world’s second largest airplane maker Boeing Co. said Wednesday that its third-quarter profit climbed 61 percent due to higher commercial airplane deliveries and growth in its defense business.

For the quarter ending Sept. 30, Boeing's profit rose to $1.1 billion (EUR770 million), or $1.44 per share, up from $694 million, or 89 cents per share, a year ago.

Revenue rose 12 percent to $16.5 billion (EUR11.6 billion) from $14.7 billion a year ago, beating Wall Street expectations.

On average, analysts surveyed by Thomson Financial forecast earnings per share of $1.24 on $16 billion in revenue.

The Chicago-based company is on pace to overtake rival Airbus as the world's largest commercial airplane maker within a year.