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VOL. 37 | NO. 4 | Friday, January 25, 2013
Boeing focuses on 787 fix; 4Q profit tops estimate
JOSHUA FREED, AP Business Writer
Boeing says its top priority this year is to fix the battery problems that grounded its 787.
The company made the pledge while reporting a fourth-quarter profit that topped Wall Street estimates, as rising profits from commercial jets offset a smaller profit from defense work.
Boeing earned $978 million in the latest quarter, or $1.28 per share. That was down 30 percent from $1.39 billion, or $1.84 per share, a year earlier, which included a big tax benefit.
The profit topped the $1.19 per share expected by analysts.
Revenue rose 14 percent to $22.3 billion.
Boeing Co. says earnings this year will be $5 to $5.20 per share, with revenue of $82 billion to $85 billion. The outlook assumes "no significant financial impact" from the 787 being out of service.