UPDATE: Boeing Q4 Net Income Jumps 20%

Boeing Co (NYSE: BA) reported a 20% rise in its Q4 net income.

Boeing's quarterly earnings rose to $1.39 billion, or $1.84 per share, from $1.16 billion, or $1.56 per share, in the year-ago period. Its revenue surged to $19.56 billion from $16.55 billion. However, analysts were expecting a profit of $1 per share on revenue of $19.37 billion.

Boeing projects 2012 earnings of $4.05 to $4.25 per share, on revenue of $78 billion to $80 billion. However, analysts were expecting a profit of $4.90 per share on revenue of $78.45 billion.

Boeing shares fell 0.81% to $74.75 in pre-market trading.