The Boeing Company (NYSE: BA) reported a narrower net loss for the June-quarter even as revenues decreased 25%, hurt by the coronavirus-linked flight cancellations.
Core loss, adjusted for one-off items, narrowed to $4.79 per share from $5.82 per share in the second quarter of 2019. The bottom-line, meanwhile, missed the estimates.
Net loss, on an unadjusted basis, was $2.39 billion or $4.20 per share, compared to a loss of $2.94 billion or $5.21 per share recorded a year earlier.
Second-quarter revenues plunged 25% year-over-year to $11.8 billion, hurt by the widespread disruptions caused by the COVID-19 pandemic and grounding of the 737 MAX fleet. Analysts had forecast a slower decline.
Boeing’s stock gained about 2% early Wednesday following the earnings announcemnet, after closing the previous session higher.
Most Popular
StubHub Holdings set to enter public markets. Here’s what to expect
After a modest start to the year, the IPO market is witnessing an increase in activity led by technology and healthcare companies. StubHub Holdings, a leading online ticket marketplace for
Can Beyond Meat (BYND) overcome its persistent challenges?
Shares of Beyond Meat, Inc. (NASDAQ: BYND) stayed red on Tuesday. The stock has dropped 19% over the past three months. The plant-based meat company continues to struggle in terms
CarMax (KMX) likely to report strong earnings growth for Q4 2025
After reporting robust earnings growth for the third quarter, CarMax, Inc. (NYSE: KMX) is preparing to publish Q4 results next week. Over the years, the company has fostered customer loyalty
