Boeing revenue up 2 percent for first quarter

Boeing reported a revenue increase of 2 percent for the first quarter of the year, but took a hit due to charges connected to the KC-46 Pegasus tanker contract for the Air Force, executives announced on Wednesday.

Total revenue was $22.6 billion for the quarter, which is up from $22.1 billion one year ago. Earnings per share dropped from $1.97 last year to $1.83. Total net earnings dropped to $1.2 billion this quarter, down from $1.3 billion a year ago.