Boeing’s Q2 net income up

Source: Xinhua | 2017-07-27

BOEING reported better-than-expected quarterly earnings yesterday and lifted its full-year profit forecast, citing a strong operational performance and tax savings.

Net income in the second quarter was US$1.8 billion, up from the US$234 million loss in the year-ago period due to one-time costs on its military and commercial aircraft programs.

Revenues fell 8.1 percent to US$22.7 billion on lower commercial deliveries. Profit margins in the commercial aircraft divisions increased, although the company delivered fewer planes than in the year-ago period.

Earnings from Boeing’s defense division rose due to higher profit margins and more favorable timing on contract awards compared to the year-ago period.

Boeing boosted its full-year forecast targets, lifting the range for projected 2017 earnings-per-share to US$11.10 to US$11.30 per share, up from US$10.35 to US$10.55 per share.