Boeing misses 2Q earnings expectations, tops revenue forecasts

MarketsAssociated Press

CHICAGO (AP) — Boeing Co. (BA) on Wednesday reported second-quarter net income of $1.11 billion.

The Chicago-based company said it had profit of $1.59 per share. Earnings, adjusted for non-recurring costs, were $1.62 per share.

Continue Reading Below

The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.71 per share.

The airplane builder posted revenue of $24.54 billion in the period, which beat Street forecasts. Seven analysts surveyed by Zacks expected $24.17 billion.

Boeing expects full-year earnings in the range of $7.70 to $7.90 per share, with revenue in the range of $94.5 billion to $96.5 billion.

Boeing shares have climbed 12 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed almost 3 percent. The stock has increased 9.5 percent 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 http://www.zacks.com/ap/BA

_____

Keywords: Boeing, Earnings Report, Priority Earnings