Boeing: back to black in Q2

(CercleFinance.com) - Boeing said on Wednesday that it has returned to profit in Q2, helped by a recovery in the commercial airplane market.


The US aerospace, defense and space giant posted Q2 net income of 567 million dollars, or 40 cents per share, against a loss of 2.4 billion dollars (-4.79 dollars per share) a year ago.

Analysts were expecting a loss of 70 cents per share.

Revenue jumped 44% to 17 billion dollars, including 268% growth in the commercial aircraft division alone, benefiting from a higher number of deliveries.

The plane maker says it delivered 79 aircraft in the current quarter, up from just 20 in Q2 of FY 2020.

Over the quarter, the civil airplane division booked 180 net new orders, bringing its backlog to 4,100 aircraft, worth a total of 285 billion dollars.

The Boeing stock was up over 4% in pre-market trading after these announcements.


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