Boeing 2Q profit falls; 747-8 may slip into 2011

By JOSHUA FREED AP Business Writer

MINNEAPOLIS (AP) - Boeing Co. says its second-quarter profit fell 21 percent, as revenue fell in both its commercial airplane and defense units.

Boeing also says that the first delivery of its new 747-8 may slip into early next year. It has already said the same thing about its new 787. It had previously hoped to deliver both planes by the end of this year, and Boeing says that is still its goal.

Profit for the quarter fell to $787 million, from $998 million a year earlier. Revenue fell more than 9 percent to $15.6 billion.

The profit worked out to $1.06 per share. That's 5 cents more than expected by analysts surveyed by Thomson Reuters. However, they had expected Boeing to report revenue of more than $16 billion.