Summary Box: Boeing 3Q profit rises

AP News
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Posted: Oct 26, 2011 4:29 PM
Summary Box: Boeing 3Q profit rises

THE BEST DEFENSE: Boeing Co. reported a $1.1 billion third-quarter profit driven by profit growth on its defense side, even though defense revenue was flat.

NEW PLANES: Boeing said it won't deliver as many of its new 787 and 747-8 this year as it had previously expected. It cut 10 planes from its old forecast of delivering 25 to 30.

WHAT'S NEXT: Boeing raised its 2011 profit guidance. With U.S. defense spending expected to stay under pressure, revenue growth next year is likely to come from more deliveries of the 787 and 747-8, along with faster production of its 737.