Airbus Group Q1 core earnings fall 23 pct
AMSTERDAM, April 28 (Reuters) - Airbus Group (Swiss: AIR.SW - news) on Thursday posted slightly higher-than-expected core profit and reaffirmed targets for the year, while warning of serious challenges for its A400M military plane and reporting a heavy drain on cash due to delayed jet deliveries.
Widely watched operating earnings before one-off items at Europe's largest aerospace group fell 23 percent to 501 million euros ($567.8 million) as revenue gained 1 percent to 12.183 billion euros.
Analysts were on average predicting core operating earnings before one-off items of 494 million euros on revenue of 11.946 billion, according to a Reuters survey. ($1 = 0.8823 euros) (Reporting by Tim Hepher; Editing by James Regan)