Boeing Q4 core profit up 29 percent, sees 2 percent rise in 2014

Chicago-based Boeing said net income in the quarter rose to $1.23 billion, or $1.61 a share, from $978 million, or $1.28 a share, a year earlier.

Revenue rose to $23.8 billion from $22.3 billion in the quarter.

Core earnings, which exclude some pension expenses, rose 29 percent to $1.84 billion, or $1.88 a share, compared with $1.46 a share a year earlier.

Analysts had expected core earnings per share of $1.57 for the fourth quarter, and revenue of $22.7 billion, according to Thomson Reuters I/B/E/S.

Boeing said it would deliver between 715 and 725 commercial airplanes this year, a possible increase of nearly 12 percent from a record 648 in 2013.

It expects core earnings to rise to as much as $7.20 a share in 2014, up less than 2 percent from $7.07 a share for 2013.

Boeing's results included a non-cash charge of $406 million to settle litigation over the canceled A-12 stealth bomber program.

The U.S. Justice Department announced a settlement with Boeing and General Dynamics Corp last week that includes three additional EA-18G fighter jets, which will be paid for by Boeing.

Boeing said its earnings reflect a charge of 34 cents a share for the A-12 settlement, which was partly reduced by a 28 cent per share gain from a favorable change in tax regulations.

In pre-market trading, Boeing shares were down 1.1 percent to $135.57.

(Reporting by Alwyn Scott; Editing by Sophie Hares)