Commercial jet sales help Boeing's profits soar

CHICAGO - Boeing Co. (BA) says fourth-quarter profit is up 20 percent as it delivered more commercial planes, offsetting weakness in the defense business.

The results topped Wall Street expectations, but the company is giving a cautious outlook for 2015.

Boeing said Wednesday that it earned $1.47 billion, or $2.02 per share, compared with $1.23 billion, or $1.61 per share, a year earlier.

Excluding special items, Boeing says so-called core earnings were $2.31 per share. Analysts expected $2.11 per share, according to FactSet.

The company says adjusted earnings this year will be between $8.20 and $8.40 per share -- below analysts' forecast of $8.66 per share, the FactSet survey showed.

The airplane builder posted revenue of $24.47 billion in the period, also beating Street forecasts. Analysts expected $23.73 billion, according to Zacks.

Boeing shares have climbed almost 2 percent since the beginning of the year, while the Standard & Poor's 500 index has dropped slightly more than 1 percent. The stock has declined roughly 4 percent in the last 12 months.