Boeing posts solid Q4 profit but stumbles on jet delivery forecast

Washington

BOEING Co fell the most in 14 years after its forecast for declining jetliner deliveries and less-than-expected profit caught analysts off guard and stoked concerns that demand for new planes is waning amid global economic turmoil.

The company was the worst performer among the 30 members of the Dow Jones Average even though its fourth-quarter profit exceeded estimates by a wide berth. The stock plunged 8.9 per cent to US$116.58 at the close in New York, the steepest decline since October 2001.