Boeing’s Q4 Earnings Surpass Expectations

Boeing’s Q4 Earnings Surpass ExpectationsChicago based Boeing Company, surpassed the expectations of the analysts as posted its earnings for the quarter that ended in December. The Airplane manufacturer also posted a record for commercial airplanes in 2014.

The airplane making company said that the core earnings for each share grew 23% to $2.31 on record revenue for the fourth-quarter that touched $24.5 billion. The analysts were looking at revenue of $23.93 and earnings of $2.11a share.

According to Boeing the unit for commercial airplanes booked a total of 432 orders in this quarter. The whole year orders for 2014 were a record number at1,432.

On Wednesday, the shares of Boeing increased 4% during premarket trading to $137.75 per share.

The investors for some time have been worried, as the lowered U. S. military defence spending was expected to have an effect on the financial results of Boeing.

On Wednesday, Jim McNerney the Chairman and Chief Executive Officer of the company agreed that the market of late has been "challenging."

He said, "Our commercial airplanes business successfully increased production rates and set an industry record for annual deliveries while also growing its backlog to new highs on record new orders for the year."