The Boeing Company (NYSE: BA) reported a net loss for the first quarter of 2021 as deliveries and service volumes remained under pressure from the COVID-related disruption. The bottom-line missed expectations, while revenues beat.
The Illinois-based aircraft maker reported revenues of $15.2 billion, which is down 10% from the first quarter of 2020. The top-line, meanwhile, exceeded experts’ projection.
The company reported a loss of $1.53 per share, on an adjusted basis, compared to a loss of $1.7 per share in the year-ago quarter. On a reported basis, it was a net loss of $561 million or $0.92 per share, compared to a loss of $641 million or $1.11 per share last year. Analysts had predicted a narrower loss for the latest quarter.
Read management/analysts’ comments on Boeing’s Q1 report
Boeing’s stock dropped early Wednesday soon after the earnings announcement, after closing the previous session higher.