Boeing reporting high 4Q profits, focusing on 787 issues - WREX.com – Rockford’s News Leader

Boeing reporting high 4Q profits, focusing on 787 issues

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UNDATED (WREX) -

Despite the grounding of the company's 787 Dreamliner, Boeing reported fourth quarter profits that topped Wall Street estimates.

The company made $978 million, or $1.28 per share, during the last part of 2012. Despite topping Wall Street estimates of $1.19, that number was still down 30 percent from 2011 numbers. Revenue, however, was up 14 percent to $22.3 billion.

The profit was attributed to increasing profits from commercial jets that helped to offset a decrease in profit from defense work.

Approximately 50 Dreamliners have recently been grounded around the world due to problems with the aircraft's lithium battery. Boeing has said solving those problems is the company's first priority in 2013.

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