Boeing's 787 deferred production cost balance rises to $28.3 billion

NEW YORK (Reuters) - Boeing Co (NYSE: BA) said on Wednesday that the deferred production cost balance for its 787 Dreamliner, a measure of the program's progress toward profitability, rose to $28.3 billion in the third quarter from $27.7 billion in second quarter.

The rise reflected continuing losses on the high-tech jet. Boeing has said it expects the 787 program to reach cash-flow break even this year, and become profitable in 2016. Boeing also said on Wednesday that net profit rose 25 percent in the latest quarter to $1.7 billion, or $2.47 per share, on a 9 percent rise in revenue to $25.85 billion.

(Reporting by Alwyn Scott; Editing by Chizu Nomiyama)

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