Boeing reported better-than-expected fourth-quarter earnings Wednesday in the wake of an investigation into a battery problem that grounded its 787 Dreamliner.

The company has come under fire in recent weeks after an All Nippon Airways' 787 aircraft made an emergency landing when crew smelled burning in the cabin and one of its lithium batteries was found to be singed and damaged.

Jim McNerney, Boeing's Chief Executive, said: "Our first order of business for 2013 is to resolve the battery issue on the 787 and return the airplanes safely to service with our customers.

"At the same time, we remain focused on our ongoing priorities of profitable ramp up in commercial airplane production, successful execution of our development programmes, and continued growth in core, adjacent and international defence and space markets."

Boeing reported revenue of $22.3bn for the last three months of 2012, up 14% compared to the same time last year.

Earnings per share in the fourth quarter hit $1.28, down 30%, due in part to higher taxes. However, earnings exceeded market forecasts.

Results were driven by higher deliveries of commercial planes. McNerney said Boeing delivered more than 600 planes including the first three Charleston-built 787 Dreamliner.

The company also received new international orders for Defense, Space & Security and more than 900 orders for the 737 MAX aircraft.

"Strong fourth-quarter operating performance capped a year of significant growth and solid execution, driving higher earnings and cash flow for our company," McNerney said.

Shares were up 0.56% at $74.06 by 10:07 in New York.

RD

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