Boeing 1Q earnings, revenue rise on aircraft sales

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CHICAGO (AP) -- Boeing Co. says its first-quarter earnings and revenue rose sharply on better sales of commercial airplanes, and it's raising its 2012 profit forecast.

The company said Wednesday that it earned $923 million, or $1.22 per share in the quarter ended March 31. Revenue rose 30 percent, to $19.38 billion.

Profit's up about 58 percent from a year ago and well above the 96 cents per share that analysts polled by FactSet expected. They estimated revenue would be $18.45 billion.

Boeing shares took off in premarket trading, rising $1.90, or 2.6 percent, to $75.11.