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

In this Dec. 16, 2014 photo, workers walk near an engine of a Boeing 737-800 airplane being assembled at Boeing's 737 facility in Renton, Wash. Boeing reports quarterly financial results on Wednesday, Jan. 28, 2015. (AP Photo/Ted S. Warren)

By Associated Press January 28, 2015 2 min read

CHICAGO (AP) – Demand for commercial jets airliners boosted Boeing Co.’s fourth-quarter profit 20 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 premarket trading before Wednesday’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.