Boeing Posts Mixed Results (BA)

Boeing Company

announced on Wednesday morning that it beat consensus Wall Street earnings estimates but missed revenue expectations. Boeing Company (

) reported that its 2nd quarter net income fell 21% to $787 million, or $1.06 per share, from $998 million, or $1.41 per share, a year earlier. Revenue fell 9% to $15.6 billion, down from $17.2 billion a year earlier. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of $1.01 per share, on revenue of $16.13 billion. "Continued strong results from our major businesses drove another solid quarter of operational performance for the company," said chairman, president and chief executive officer Jim McNerney. "We are making progress on key commercial and military development programs, our production programs and services businesses are running well, and our enterprise focus on productivity improvement is funding investment in growth while maintaining our financial strength." Boeing Company closed the previous trading session at $68.62 per share. Analysts covering the company's stock give it a consensus price target of $81.10 per share. Read more