Boeing reports 2Q loss

AP News
|
Posted: Jul 27, 2016 7:53 AM
Boeing reports 2Q loss

CHICAGO (AP) — Boeing Co. (BA) on Wednesday reported a second-quarter loss of $234 million, after reporting a profit in the same period a year earlier.

The Chicago-based company said it had a loss of 37 cents per share. Losses, adjusted for non-recurring gains, came to 44 cents per share.

The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 88 cents per share.

The airplane builder posted revenue of $24.76 billion in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $24.45 billion.

Boeing expects full-year earnings in the range of $6.10 to $6.30 per share, with revenue in the range of $93 billion to $95 billion.

Boeing shares have fallen almost 7 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 6 percent. The stock has dropped slightly more than 4 percent in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BA at http://www.zacks.com/ap/BA

_____

Keywords: Boeing, Earnings Report, Priority Earnings