Boeing profit soars, confirms 2015 forecasts

U.S. aerospace giant Boeing reported that first-quarter net profit soared 38 percent from a year ago and reaffirmed its 2015 forecasts for financial results and deliveries. Net earnings totaled $1.34 billion in the first three months of the year, compared with $965 million in the first quarter of 2014. Higher commercial aircraft deliveries pushed revenue to $22.15 billion, up 8 percent from a year ago but slightly below the $22.49 billion analysts expected. The Boeing Company said it ended the first quarter with a $9.6 billion cash cushion, after repurchasing 17 million shares for $2.5 billion and raising dividends by about 25 percent compared with a year ago. The company finished the first quarter with a total company backlog of $495 billion.