Boeing Buoyed By These New Sales

Boeing (NYSE:BA) reported stronger than expected first quarter earnings thanks to a a boost in both its commercial and defense businesses that has led to increasing profit margins.

Overall, the company saw a 58 percent profit increase in the last quarter. Boeing posted a 54 percent revenue spike in its commercial airplane division and an 8 percent increase in its defense segment. The company managed to offset a reduction in revenue from the Pentagon by expanding sales overseas including a new F-15 contract with Saudi Arabia.

Part of Boeing’s first quarter success can be attributed to better plane delivery. During the first quarter, the company delivered 137 planes, a 32 percent increase over the year-ago quarter. The company also brought in $21 billion in new business, with a total backlog of $308 billion.