The Boeing Company (NYSE: BA) reported fourth quarter 2020 earnings results today.
Revenues dropped 15% year-over-year to $15.3 billion hurt by lower commercial deliveries and services volume, mainly due to the COVID-19 pandemic and 787 production issues.
GAAP net loss amounted to $8.4 billion, or $14.65 per share, compared to $1 billion, or $1.79 per share, last year. Core loss per share totaled $15.25 versus $2.33 in the year-ago period.
The quarterly losses reflected a $6.5 billion pre-tax charge on the 777X program and a tax valuation allowance, partially offset by a lower 737 MAX customer considerations charge.
The Street was looking for revenues of $15.07 billion and a loss per share of $1.80.
Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!
Leading stock indexes retreated after gaining mid-week when Wall Street biggies like Apple and Amazon reported impressive quarterly numbers. The Dow Jones Industrial Average was down 190 early Friday, while
The airlines sector was severely impacted by the disruption caused by the COVID-19 pandemic in 2020. A year later, the industry is still limping its way to a recovery. In
The company that witnessed the strongest growth during the pandemic is probably Amazon.com, Inc. (NASDAQ: AMZN), which went into overdrive when the crisis triggered an online shopping boom. Taking a