New York  - US airplane giant Boeing reported Wednesday its net profit in the second quarter of 2008 came to 852 million dollars, down 19 per cent from the year before, amid cost pressures.

The Chicago, Illinois-based company, now the world's number two behind the European company Airbus, said revenues were 17 billion dollars, roughly the same as the year-before level.

In its statement, Boeing said costs related to a delayed military aircraft programme had cut into the benefits which the company had seen from the highest deliveries since
2001.

According to the financial newswire Bloomberg, Boeing's Q2 results at 1.16 dollars per share fell short of the average prediction of 1.22 dollars in the agency's survey of 12 analysts. Revenue was also below the analysts' projection of 17.3 billion dollars.

Despite the downturn, Boeing said it was sticking with its full- year business projections. (dpa)