Boeing reported a surprising USD 3.3 billion loss for the third quarter on Wednesday, as revenue fell short of expectations and it took huge losses for fixed-cost government programs including new Air Force One presidential jets.
The company blamed higher manufacturing and supply-chain costs for driving the losses in government programs.
CEO David Calhoun said Boeing remains in a “challenging environment” and has “more work ahead to drive stability”.
The adjusted loss amounted to USD 6.18 per share on revenue of USD 15.96 billion. Analysts had expected the company to earn 13 cents per share and post revenue of USD 17.91 billion.
