New Delhi: Boeing announced a USD 3.3 billion loss for the third quarter on Wednesday due to lower-than-anticipated sales, significant losses from fixed-cost defence programmes, and difficulties in its commercial aircraft division.
Boeing’s CEO, David Calhoun, stated that the company still operates in a “difficult environment” and has more work to do to promote stability.
On revenues of USD 15.96 billion, the adjusted loss came to USD 6.18 per share. Analysts anticipated the company to report revenue of USD 17.91 billion and earnings of 13 cents per share.
Boeing’s generally reliable defence and space division had a 20% decline in revenue, and the company lost USD 2.8 billion due to higher expected manufacturing and supply chain costs for Air Force One, a military refuelling tanker, and other projects.
