Boeing returns to profitability, drops layoff plans
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 jumped 5% in midday trading on the news.
Boeing CEO Dave Calhoun cautioned the company's problems are not necessarily behind it.
https://www.msn.com/en-us/money/news/boeing-returns-to-profitability-drops-layoff-plans/ar-AAMEKuR