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Boeing Company Posts Narrower Core Operating Loss In Q2; Revenues Down 25%

(RTTNews) - The Boeing Company (BA) reported a second quarter core loss per share of $4.79 compared to a loss of $5.82, previous year. On average, 19 analysts polled by Thomson Reuters expected the company to report a loss per share of $2.54, for the quarter. Analysts' estimates typically exclude special items. Core operating loss was $3.32 billion compared to a loss of $3.75 billion.

The company noted that its financial results continue to be significantly impacted by COVID-19 and the 737 MAX grounding. Operating cash flow was negative at $5.3 billion in the quarter, primarily reflecting lower commercial deliveries and services volume.

Second quarter revenues declined to $11.81 billion from $15.75 billion, previous year. Analysts expected revenue of $13.16 billion for the quarter.

Total company backlog at quarter-end was $409 billion, including more than 4,500 commercial airplanes.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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