CHICAGO (AP) - Boeing Co. (BA) on Wednesday reported fourth-quarter profit of $1.03 billion.

CHICAGO (AP) Boeing Co. (BA) on Wednesday reported fourth-quarter profit of $1.03 billion.

On a per-share basis, the Chicago-based company said it had net income of $1.51. Earnings, adjusted for non-recurring costs, were $1.60 per share.

The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.37 per share.

The airplane builder posted revenue of $23.57 billion in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $23.4 billion.

Boeing expects full-year earnings in the range of $8.15 to $8.35 per share, with revenue in the range of $93 billion to $95 billion.

Boeing shares have fallen 11 percent since the beginning of the year, while the Standard & Poor's 500 index has declined almost 7 percent. The stock has declined 4.5 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BA at http://www.zacks.com/ap/BA

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Keywords: Boeing, Earnings Report, Priority Earnings