The Boeing Co. said this morning that operating profits for its Puget Sound-based commercial airplanes division had soared 81 percent during the first quarter.
The company as a whole saw profits grow 29 percent, to $692 million, Boeing reported. The company had a profit of $535 million in last year’s first quarter. On a per-share basis, profits grew to 88 cents, from 66 cents.
The increase was driven by the surge in commercial airplane business. Boeing reported that revenue for its Commercial Airplane Group was up 48 percent, to $7.1 billion, while operating profits jumped 81 percent, to $703 million.
Operating profits for Boeing’s defense and space business fell 4 percent during the quarter, the company said.
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