Boeing's Awful Earnings Streak Continues
Three months ago, Boeing (NYSE: BA) reported a massive core operating loss of $3.3 billion for the second quarter as the COVID-19 pandemic crushed its commercial airplanes and services business lines. The ongoing 737 MAX grounding didn't help matters, either. Boeing's core loss per share of $4.79 was nearly double what analysts had expected.
On Wednesday, Boeing posted a much smaller loss for the third quarter. It even beat the analyst consensus by a considerable margin. Nevertheless, the results were quite terrible, and the aerospace giant remains many years away from returning to health.
Boeing generated $14.1 billion of revenue last quarter: down 29% year over year. This came on top of a 21% revenue decline in the third quarter of 2019, which was driven by the 737 MAX delivery halt. Analysts had expected revenue of $14.5 billion.
Source Fool.com
