Boeing Co. recorded its first quarterly profit in nearly two years, the company revealed on Wednesday. This follows a prolonged period of financial difficulty for the aerospace company, during which time the coronavirus pandemic triggered one of the worst financial crises that the company has experienced since its founding a century ago.
The company recorded a $17 billion revenue during the second quarter, narrowly exceeding the $16.5 billion revenue that analysts predicted. In addition to adjusted earnings of 40 cents per share during the second quarter, the company managed to limit its expenses to $705 million; a significantly lower sum than the $2.76 billion projection provided by analysts.
During an earnings call, Chief Executive Officer Dave Calhoun made the following statement: “I’ve said before that we view this year as a critical inflection point, and it’s providing to be just that.” He also expressed confidence in his company’s ability to perform in the future, referring to the fact that Boeing’s economic recovery is gaining momentum.
Following news of its economic upturn, Boeing stocks surged by 4.5% at 1:49 PM in New York. Furthermore, the company revealed its intention to retain a 140,000-strong workforce, putting it just shy of its pre-pandemic employment levels.
