Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Companies / Boeing posts lower Q1 profit on fewer deliveries
BackBack

Boeing posts lower Q1 profit on fewer deliveries

Boeing posts lower Q1 profit on fewer deliveries

Premium

Chicago: Boeing Co, the world’s second-largest plane maker, on Wednesday posted a narrowed quarterly profit on an 11% decline in commercial airplane deliveries.

Boeing reported a first-quarter net profit of $519 million, or 70 cents per share, compared with a year-earlier profit of $610 million, or 87 cents per share.

The company beat an average Wall Street estimate of 64 cents per share, according to Thomson Reuters I/B/E/S.

The results include a 20-cent-per-share charge on health care legislation.

Revenue was $15.2 billion, down 7.8% from a year ago. The company reported an order backlog amounting to $315 billion.

The company, which suffered a drop in orders for its jetliners last year as well as military budget cuts, predicted it would earn $3.50 per share to $3.80 per share in 2010, including charges related to recent health care legislation.

Boeing reiterated that the first delivery of its long-delayed 787 Dreamliner is still planned for the fourth quarter of 2010.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 21 Apr 2010, 04:59 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie