Boeing Q1 surpasses estimates but investors not impressed

Chicago

BOEING Co surprised analysts by generating cash rather than burning it and reporting a first-quarter profit that blew past estimates. Neither impressed investors.

They focused instead on a disappointing 7.3 per cent drop in revenue as the planemaker delivered the fewest jets since 2014. The quality of the earnings was another concern as Boeing's profit benefited from a low tax rate, even as the commercial airplane business showed signs of strain.