ARLINGTON, Va. (AP) — ARLINGTON, Va. (AP) — Boeing Co. (BA) on Wednesday reported a loss of $343 million in its first quarter.
On a per-share basis, the Arlington, Virginia-based company said it had a loss of 56 cents. Losses, adjusted for non-recurring gains, were $1.13 per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of $1.43 per share.
The airplane builder posted revenue of $16.57 billion in the period, which did not meet Street forecasts. Eight analysts surveyed by Zacks expected $17.69 billion.
Boeing shares have declined 35% since the beginning of the year, while the S&P’s 500 index has risen slightly more than 6%. The stock has fallen 18% in the last 12 months.
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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
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