Boeing’s earnings miss in Q3

Aerospace company Boeing suffered losses in the third quarter of this year, according to earnings reports revealed on Wednesday, in addition to the company launching expectations that it will deliver fewer 737 MAX aircraft than current expectations.

The American giant company’s adjusted losses were $3.26 per share, compared to expectations that indicated less severe losses of $2.96 per share.

Revenues rose slightly to $18.10 billion, versus expectations of $18.01 billion. The company announced that it has reduced the losses it has been exposed to for some time, as those losses reduced to $1.64 billion in the third quarter of this year, compared to losses of $3.31 billion in the same period last year.

But the company’s revenues increased by about 13% compared to the same period last year, recording $18.10 billion, which somewhat exceeded market analysts’ expectations.

The company announced in the statement issued regarding Boeing’s financial performance in the third quarter of 2023 that it will deliver between 375 and 400 737 MAX aircraft this year, compared to previous expectations that indicated the delivery of between 400 and 450 aircraft of this model at the end of the current year.