Boeing reported a sharply reduced quarterly loss as its commercial jet business rebounded in the first quarter. Commercial sales jumped 14% to $22.2 billion, driven by recovering passenger jet demand and growth in its defense and space segment. The company delivered 143 commercial planes, a 10% increase from a year earlier, despite wiring issues that delayed some 737 MAX deliveries.

Overall, Boeing posted a $7 million loss for the quarter, compared with a $31 million loss in the year-earlier period. The loss was 11 cents per share, down from 16 cents a year ago. These results beat Wall Street estimates, which had predicted a 35-cent loss per share on sales of $21.9 billion, according to FactSet.

The improved performance signals Boeing's recovery from the pandemic's impact on air travel and supply chain disruptions. The wiring flaws affecting some 737 MAX jets represent a setback, but the company's ability to increase deliveries despite these issues demonstrates operational resilience. Boeing's defense and space segment also contributed to the positive results.