Boeing reports quarterly loss hit by charges

MarketsReuters

Boeing Co reported its first quarterly loss in nearly seven years, hit by charges related to the 787, 747 and KC-46 tanker aircraft programs.

The world's largest jetliner maker reported a net loss of $234 million, or 37 cents per share, for the second quarter ended June 30. This compares with a net profit of $1.11 billion, or $1.59 per share, a year earlier.

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Core earnings, which exclude some pension and other costs, were a loss of 44 cents per share, compared with earnings of $1.62 per share a year earlier.

The net loss in the latest quarter reflects $3.23 per share impact related to previously announced 787 cost reclassification and 747 and tanker charges, the company said on Wednesday.

Revenue rose about a percent to $24.8 billion.

(Reporting by Sweta Singh in Bengaluru; Editing by Sriraj Kalluvila)