Boeing Co (BA) Stock Slips Despite Earnings Beat

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Boeing Co (NYSE:BA) stock was down today despite a positive earnings report for the third quarter of 2017.

Boeing Co (BA) Stock Slips Despite Earnings Beat

Boeing Co reported earnings per share of $2.72 during its third quarter of the year. This is a 23% drop from its earnings per share of $3.51 reported in the same period of the year prior. However, it did come in above Wall Street’s earnings per share estimate of $2.66 for the quarter.

Revenue reported by Boeing Co in the third quarter of 2017 was $24.31 billion. The airplane maker reported revenue of $23.90 billion in its third quarter of 2016. Analysts were expecting BA to report revenue of $23.92 billion during the third quarter of the year.

Being Co also saw its net income for the third quarter of 2017 slip by 19%. It reported net income of $1.85 billion in its most recent quarter and net income of $2.23 billion during the same time last year.

Boeing Co also updated its outlook for the full year of 2017 in its third-quarter earnings report. The company now expects earnings per share to range from $9.90 to $10.10. It was previously expecting earnings per share to come between $9.80 and $10.00. Wall Street is looking for earnings per share of $10.04 for the year.

Boeing Co’s revenue guidance for the full year of 2017 has it ranging from $90.50 billion to $92.50 billion. This hasn’t changed from its previous revenue guidance. Analysts are estimating revenue of $92.15 billion for the full year of 2017.

BA stock was down 1% as of Wednesday morning, but is up 68% year-to-date.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2017/10/boeing-co-ba-stock/.

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