Moneycontrol

Budget 2023Budget 2023
Upcoming Event : LeapToUnicorn - mentoring, networking and fundraising for startups. Register now
you are here: HomeNewscompanies

Boeing loses $663 million in Q4 despite higher 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.

January 25, 2023 / 06:55 PM IST
Boeing preferred to focus on cash flow, which rose for the quarter and the entire year - the first full year of positive cash flow since 2018. (Representative image)

Boeing preferred to focus on cash flow, which rose for the quarter and the entire year - the first full year of positive cash flow since 2018. (Representative image)

Boeing said on Wednesday it lost $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.