Tags: Revenues

Boeing post bigger loss despite performing well against Airbus

US based airline manufacturer Boeing has posted a large quarterly loss as expected. However, the company suffered at the stock market as the forecast for the coming months failed to match the high market expectations.

The company has performed well against competitors Airbus in the recent times and they raised its profit and revenue forecast for next year.

However, this was still not good enough to impress the market. J.P. Morgan analyst Joseph Nadol spoke on this result: “While guidance was raised it may not be by quite enough to satisfy the bulls on the stock.”

Boeing reported losses of $160 million, which comes to around 21 cents per share for the second quarter. This was mainly due to the recent legal settlement with the U.S. government and fines for delayed military aircraft projects. This is pretty disappointing when compared to profit of $566 million, or 70 cents per share in the same period last year.