Plane maker Boeing has reported a 38% increase in profits in the first quarter of 2008, helped by higher deliveries of its commercial planes.
The company, which competes with Airbus in the lucrative jetliner market, reported quarterly profit of $1.2 billion, or $1.62 per share, compared with $877m a year earlier. The results were well ahead of forecasts. Boeing's quarterly revenue rose 4% to $16 billion.
The US aerospace giant, which has been plagued by delays of its new 787 Dreamliner aircraft, maintained its 2008 earnings outlook at between $5.70 and $5.85 per share.
Boeing's order backlog at the end of the quarter reached a record $346 billion, up 32% in the last year, with growth in the quarter driven by commercial planes and the V-22 for the US military.
