Boeing's Woes Continue: Another Earnings Miss
Three months ago, Boeing (NYSE: BA) reported a surprise profit for the second quarter of 2021. However, the aerospace-giant's luck didn't hold up for the third quarter.
On Wednesday, Boeing reported that it fell back into the red last quarter, posting a bigger loss than analysts had expected. It also continued to burn cash. Moreover, there's still no sign of an imminent turnaround.
Boeing generated $15.3 billion of revenue last quarter, missing the analyst consensus of $16 billion. While revenue increased 8% year over year, the company faced a very easy comparison, given that the pandemic was raging and the Boeing 737 MAX grounding had not been lifted yet in the prior-year period. In Q3 2018, prior to the 737 MAX grounding and the pandemic, Boeing recorded over $25 billion of revenue.
Source Fool.com
