NEW YORK (TheStreet) -- Boeing reports better-than-expected first-quarter earnings, boosted by faster production of commercial jets.

VIDEO TRANSCRIPT:

Boeing (BA) reported better-than-expected first-quarter earnings on Wednesday, boosted by an increase in commercial jet production.

Boeing reported core earnings of $1.76 a share, handily beating the mean analyst estimate of $1.56, according to Thomson Reuters.  Shares of Boeing climbed on the news, which was welcome to investors after the company issued a conservative full-year forecast in January.

Boeing said that 161 new planes rolled off assembly lines during the period, more jets than the 137 it delivered during the same period a year ago.  That includes 18 787 Dreamliner jets during the quarter, a big jump from the single Dreamliner it delivered last year when the fleet was grounded over issues with its lithium-ion batteries.

WATCH: More videos from Brittany Umar on TheStreet TV

The company also repurchased 19.4 million shares for $2.5 billion during the quarter, after authorizing its largest buyback plan in its history in December for $10 billion.

At last check, shares of Boeing were climbing more than 2% to $130.22.

In New York, I'm Brittany Umar for TheStreet.

Written by Brittany Umar in New York.

More from Stocks

Quick Take: Did PepsiCo's Earnings Do Enough to Silence the Bears?

Quick Take: Did PepsiCo's Earnings Do Enough to Silence the Bears?

Facebook, Amazon, Microsoft and Ford - 5 Things You Must Know

Facebook, Amazon, Microsoft and Ford - 5 Things You Must Know

Abercrombie & Fitch CEO: We Aren't the Same Abercrombie You Once Knew

Abercrombie & Fitch CEO: We Aren't the Same Abercrombie You Once Knew

Amazon Wants to Use Your Car as a Mobile Warehouse - Here's What That Could Mean

Amazon Wants to Use Your Car as a Mobile Warehouse - Here's What That Could Mean

Chipotle's New CEO Has Set its Path for Redemption

Chipotle's New CEO Has Set its Path for Redemption