Boeing • First-quarter profit soared 58 percent, beating analysts’ expectations, as sales at its commercial-airplane division surged. Even its defense business grew, although much more slowly. Boeing delivered 137 commercial airplanes in the quarter, winning bragging rights over European rival Airbus, which had 131 deliveries. Much of the demand came from emerging markets. Boeing earned $923 million, or $1.22 per share, in the first quarter, compared with $586 million, or 78 cents per share, a year earlier.
Caterpillar • First-quarter profit jumped 29 percent, and the company boosted its outlook for the year as U.S. builders replaced old gear and global demand for mining equipment boomed.
The company generated $1.59 billion in net income, or $2.37 per share, during the quarter. That’s up from last year’s $1.23 billion net income, or $1.84 per share.
WellPoint • The Indianapolis-based health insurer said first-quarter net income fell nearly 8 percent as enrollment slipped and expenses rose, but results beat analysts’ earnings expectations and the health insurer raised its forecast for 2012.
The Indianapolis company said Wednesday it expects its capital management to improve after earning $169 million in investment income in the first quarter. Company leaders also anticipate improvements in their main businesses and more growth from a Medicare Advantage segment that hurt WellPoint last year.
Credit Suisse • The bank ‘s stock took a hit Wednesday after it reported a 95 percent drop in net profit for the first quarter, when it took big charges on its debts and paid out higher bonuses. Switzerland’s second-biggest bank reported that its net profit attributable to shareholders during the first three months fell to $48.19 million. However, the result represents a turnaround from the fourth quarter of 2011.
Denver Post wire services
