Boeing Q3 net at $1.1bn; revenue rises 12%
Boeing said on Wednesday third-quarter profit rose more than expected, helped by higher deliveries of commercial planes, but it scaled back its revenue forecast for next year due to delays on its 787 Dreamliner and slowing growth at its defence un...
By Agencies |
NEW YORK: Boeing said on Wednesday third-quarter profit rose more than expected, helped by higher deliveries of commercial planes, but it scaled back its revenue forecast for next year due to delays on its 787 Dreamliner and slowing growth at its defence unit.
Boeing reported quarterly net profit of $1.1 billion, or $1.44 per share, compared with $694 million, or 89 cents per share, a year earlier. Earnings from continuing operations were $1.43 per share, which easily beat Wall Street’s average forecast of $1.24, according to estimates.
Revenue rose 12% to $16.5 billion, above analysts’ average forecast of $16.05 billion. The company, which vies with Airbus for control of the jetliner market, said it was still addressing “challenges” as it builds the first batch of 787s.
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