Boeing Reports a Massive Q1 Loss: Is Now a Good Time to Buy?
Boeing (NYSE: BA) lost $1.35 billion in the first quarter, burning through $4.7 billion in the process. On a per-share basis, the company lost $1.70, $0.09 worse than estimates, and revenue came in $400 million below expectations.
But investors knew the quarter would be terrible well before Boeing published its results on Wednesday, April 29. Boeing shares have lost more than half their value year to date as the COVID-19 pandemic has crippled airlines and put aviation expansion plans on hold. Wall Street cheered the results, sending shares up more than 5% after the announcement thanks to Boeing's better-than-expected forecast for future production rates and cash flow.
Is now the time to buy into Boeing shares?
Source Fool.com
