Boeing Q2 profit climbs, lifts 2012 forecast

US aerospace giant Boeing reported Wednesday that profit rose three percent in the second quarter, boosted by strong commercial aircraft deliveries, and lifted its full-year forecast. Boeing posted net income of $967 million for the April-June period, compared with $941 million a year ago. Earnings per share rose two percent, to $1.27, reflecting a strong core performance that more than offset higher pension expense, the Chicago-based company said. EPS was well above market expectations of $1.12. Revenues leaped 21 percent, to $20.0 billion. Boeing raised its 2012 forecasts to EPS between $4.40 and $4.60, and revenues to $79.5-81.5 billion. "Commercial airplane deliveries increased 27 percent in the second quarter, and our defense, space and security business also produced higher revenues and strong margins in a difficult market environment," said Jim McNerney, Boeing chairman, president and chief executive. "As a result of this solid first-half performance, we have strengthened our outlook for the year."