Boeing Q3 profit jumps but higher 787 cost weighs on its shares

New York

INVESTOR concern about Boeing's progress in cutting the cost of building its new 787 Dreamliner jets led to a 4.5 per cent drop in the company's stock on Wednesday, even though Boeing reported otherwise strong third-quarter results.

Boeing's stock fell US$5.67 a share, to US$121.45, on more than three times its normal volume. The decline came after the company disclosed that the deferred production cost for the 787 programme rose 3.9 per cent over the last three months to approximately US$25.2 billion.