The Boeing Company (NYSE: BA) reported its financial results for the quarter ended March 31, 2020 today. The bottom line was wider than the analysts’ expectations while the top-line missed consensus estimates.
Boeing slipped to a loss in the first quarter of 2020 from a profit last year, due to the impacts of COVID-19 and the 737 MAX grounding. As the pandemic continues to reduce airline passenger traffic, Boeing sees a significant impact on the demand for new commercial airplanes and services, with airlines delaying purchases for new jets, slowing delivery schedules, and deferring elective maintenance.
The company also announced leadership and organizational restructuring to streamline roles and responsibilities and plans to reduce overall staffing levels with a voluntary layoff program and additional workforce actions as necessary. Boeing believes it will be able to obtain sufficient liquidity to fund its operations.
The company is actively exploring all the available options for accessing the additional liquidity as this will be critical for Boeing and the aerospace manufacturing sector to bridge to recovery.
Broadcom Limited (NASDAQ: AVGO) reported first quarter 2021 earnings results today. Total revenue increased 14% year-over-year to $6.65 billion. GAAP net income was $1.3 billion, or $3.05 per share, compared
Retail giant Costco Wholesale Corporation (NASDAQ: COST) reported higher earnings and revenues for the second quarter of 2021. Earnings missed analysts’ expectations, while sales beat. Net profit was $951 million
With the corporate world rapidly shifting to cloud-native computing after the virus outbreak changed work culture and the way businesses operate, technology providers are aggressively innovating their offerings. Hewlett Packard