Boeing loses $663 mn in Q4 despite higher revenue amid supply chain problem
Boeing said on Wednesday it lost USD 663 million in the fourth quarter as rising production costs and supply-chain problems offset rising revenue.
It was another disappointing quarter for the aerospace giant, which has yet to recover from fatal crashes involving two of its 737 Max jets and a pandemic that depressed airline demand for new planes until recently.
The loss amounted to USD 1.06 per share. Excluding non-core items such as adjustments to pension costs, the loss was USD 1.75 per share. Revenue increased 35 per cent from a year earlier, to USD 19.98 billion.
Analysts were expecting the company to earn 20 cents per share on revenue of USD 18.75 billion, according to a FactSet survey.
