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Investing.com - Boeing (NYSE:BA) has posted group-wide revenue that topped estimates, as the embattled jetmaker said it was boosted by improved operational performance and commercial delivery volume.
Sales from the company’s key commercial airplanes division came in at $10.87 billion, topping Bloomberg consensus estimates of $10.4 billion, while its defense unit’s revenue was also above expectations.
"Our fundamental changes to strengthen safety and quality are producing improved results as we stabilize our operations and deliver higher quality airplanes, products and services to our customers,” said CEO Kelly Ortberg in a statement. Ortberg was brought on at the helm of Boeing in 2024 to help the airplane manufacturer salvage its reputation after a mid-air panel blowout on one of its passenger jets sparked fresh questions about its safety record.
Meanwhile, Boeing has been at center of global trade disputes, although Ortberg has previously said the firm has been working to avoid the worst of a recent rise in U.S. tariffs. Crucially, the U.S. and China have reached a trade truce, while a preliminary deal between Washington and the European Union exempts aircraft from tariffs.
"As we look to the second half of the year, we remain focused on restoring trust and making continued progress in our recovery while operating in a dynamic global environment," Ortberg said.
Boeing reported a core loss per share of $1.24 in the second quarter, which was not as deep as analysts had originally feared.
In a note, analysts at BofA flagged the impact of a $455 million non-operating and non-prosecution charge on Boeing’s income, but said investors "will be pleased to see" plans from the firm for a ramp-up in production of its 737 MAX jet.
Shares of Boeing edged down by more than 2% in early U.S. trading following the announcement.