ARLINGTON, Va. (AP) — ARLINGTON, Va. (AP) — Boeing Co. (BA) on Wednesday reported a loss of $414 million in its first quarter.
The Arlington, Virginia-based company said it had a loss of 69 cents per share. Losses, adjusted for non-recurring gains, were $1.27 per share.
The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 98 cents per share.
The airplane builder posted revenue of $17.92 billion in the period, topping Street forecasts. Five analysts surveyed by Zacks expected $17.36 billion.
Boeing shares have climbed 6% since the beginning of the year, while the S&P’s 500 index has increased 6%. The stock has increased 15% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BA at https://www.zacks.com/ap/BA
Copyright © 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.