Boeing returns to profitability, drops layoff plans
CNN
Boeing returned to profitability in the second quarter, posting net income for the first time since the start of the Covid-19 pandemic last year, a recovery that will save 10,000 jobs at the company.
Boeing earned $567 million in the quarter, compared to a $2.4 billion loss a year earlier. Analysts had forecast another loss of $161 million, and had not expected Boeing to return to profitability until later this year. But revenue of $17 billion exceeded estimates by nearly $500 million, helping to lift results. Shares of Boeing (BA) jumped 5% in premarket trading on the news.
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Bierbauer retired from CNN in 2001 after two decades covering news in Washington, DC, and around the world.
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