Boeing 2Q profit climbs 52 percent
Boeing Co. (BA) on Wednesday reported profit that increased by 52 percent in its second quarter, and topped analysts’ expectations.
The Chicago-based company said net income increased to $1.65 billion, or $2.24 per share, from $1.09 billion, or $1.41 per share, in the same quarter a year ago.
Earnings, adjusted for non-recurring costs, came to $2.42 per share. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $2.02 per share.
The company said revenue climbed 1.1 percent to $22.05 billion from $21.82 billion in the same quarter a year ago, and missed Wall Street forecasts. Analysts expected $22.32 billion, according to Zacks.
Boeing shares have declined $6.75, or 4.9 percent, to $129.74 since the beginning of the year, while the Standard & Poor’s 500 index has climbed 7.3 percent. However, the stock has climbed $21.95, or 20 percent, in the last 12 months.
This story was generated automatically by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Full BA report: http://www.zacks.com/ap/BA