UPDATE: Boeing Posts Upbeat Q4 Results, Issues Weak Earnings Outlook

Boeing Co. BA posted better-than-expected fourth-quarter earnings, but the company issued a weak earnings forecast for 2015. The Chicago, Illinois-based company reported a quarterly profit of $1.47 billion, or $2.02 per share, versus a year-ago profit of $1.23 billion, or $1.61 per share. Its core operating earnings surged to $2.31 per share from $1.88 per share. Its revenue rose to $24.47 billion. However, analysts were estimating earnings of $2.11 per share on revenue of $23.93 billion. Commercial aircraft deliveries increased 13% to 195. Commercial Airplanes revenue rose 15% to $16.8 billion in the quarter, while Defense, Space & Security's revenue declined to $7.6 billion. During the quarter, Boeing repurchased 7.8 million shares for $1 billion and paid $0.5 billion in dividends. At the end of the quarter, cash and investments in marketable securities totaled $13.1 billion, versus $10.1 billion at the beginning of the quarter. For 2015, the company expects earnings of $8.20 to $8.40 per share, and revenue of $94.5 billion to $96.5 billion. Analysts expected earnings of $8.64 per share on revenue of $93.25 billion. "Strong operating performance in the final quarter of 2014 propelled us to some of our best-ever results and sealed a fifth consecutive year of core operating earnings growth. By responding to strong demand with market-leading and proven products and capabilities, and delivering them more efficiently, we are strengthening a powerful business platform that is providing increased returns for our shareholders," said Boeing Chairman and Chief Executive Officer Jim McNerney. Boeing shares gained 3.56% to $137.20 in pre-market trading.