A Boeing 737 nears completion this week at the assembly plant in Renton, Wash. Boeing Co. reported a 7 percent drop in second-quarter profits Wednesday, but the aerospace firm still beat Wall Street's expectations.

Chicago ? Boeing Co.’s second-quarter results breezed past Wall Street’s earnings expectations Wednesday while the aerospace company boosted its profit outlook, forecasting continued strong demand for its commercial airplanes.

Profit in the quarter dipped 7 percent, mostly from a charge related to the sale of commercial airplane facilities in Wichita and Tulsa, Okla., and because earnings from a year earlier were inflated by a tax refund.

But Boeing said better productivity helped boost operating profit at both its defense unit and its commercial airplane business, which has seen a surge in airplane orders as spending on new aircraft grows worldwide, particularly from low-cost and overseas carriers.

Shares of Boeing rose 35 cents to close at $66.70 Wednesday on the New York Stock Exchange.

Wichita defense operation growing

Wichita – Boeing Co.’s remaining defense operations in Wichita are supporting good earnings, and the company has no plans to either move large pieces of work or sell its defense business, a top company official said Wednesday.

But there are no guarantees, said Derek McLuckey, general manager of Boeing’s Integrated Defense Systems in Wichita.

“I am confident the business has a very good long-term outlook in Wichita,” McLuckey said.

Nearly 4,000 employees are employed at the plant. The company recently recalled and hired 240 workers.