Boeing beats profit forecasts
Boeing is reporting second-quarter net income of $1.76 billion, after suffering a loss a year earlier.
The Chicago company had net income of $2.89 per share. Earnings, adjusted for nonrecurring gains, were $2.55 per share, blowing past the per-share forecast of $2.32 from industry analysts, according to a poll by Zacks Investment Research. The airplane builder posted revenue of $22.74 billion. Boeing expects full-year earnings in the range of $9.80 to $10 per share, with revenue of $90.5 billion to $92.5 billion. Shares of Boeing Co. have risen 36 percent since the beginning of the year. —AP
In this Monday, June 12, 2017, photo, a US flag is displayed above a Boeing 787 airplane being built for Norwegian Air Shuttle at Boeing Co’s assembly facility, in Everett, Washington. —AP