Airbus Group Posts Drop In Core Operating Profit, Reaffirms Forecast

Airbus Group

posted a decline in its first-quarter core earnings and reaffirmed its forecast for the year. Airbus Group's quarterly operating income, excluding one-time items, declined 4.6% to 700 million euros ($963 million). Its revenue gained 5% to 12.6 billion. However, analysts were estimating operating income of 644 million euros on revenue of 12.4 billion. Its revenue at Airbus Helicopters jumped 14% in the quarter. Airbus Group shares gained 1.70% to close at $17.02 yesterday.