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.