Boeing 4Q profit up as plane deliveries take off

MINNEAPOLIS -- Boeing says its fourth-quarter net income jumped 20 percent as it delivered more planes and a brisk commercial aircraft business offset a flat quarter for defense.

The Boeing Co., based in Chicago, posted a net income of almost $1.4 billion Wednesday, or $1.84 per share. That's well above Wall Street expectations of $1 per share. Revenue was $19.56 billion, also better than expected.

Boeing delivered 128 commercial planes during the quarter, up from 116 a year ago. Profits from commercial planes jumped 56 percent.

Profits from defense rose 6 percent as military spending in the U.S. and Europe slows. Boeing says defense revenue will fall in 2012.

The company is predicting a 2012 profit of $4.05 to $4.25 per share. It expects revenue of $78 billion to $80 billion.