Boeing Profit Falls in Lockstep with Commercial Deliveries
The aircraft manufacturer reported a profit of $1.22 billion, down from $1.34 billion in the same period last year, despite an increase in revenue, which was up 2.2% to $22.63 billion.
The company delivered 176 commercial planes in the last quarter, down 4.3% from a year earlier, and revenue in its commercial segment declined 6.4% to $14.4 billion.
Despite the drop in earnings, the company said it was still on track for the current year. “We are pleased with out performance trends and our outlook for the year remains positive,” said Boeing CEO Dennis Muilenburg.
(Photo: Accura Media Group)