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Boeing profit

Net profit of Boeing increased by 1.7 times in 2017

The net profit of Boeing, which is one of the world’s largest aircraft manufacturers, increased by 1.7 times year-on-year to 8.197 billion USD. The net diluted earnings per share for the reporting period was 13.43 USD compared to 7.61 USD for 2016. However, the revenue of the aircraft manufacturers decreased by 1.3% to 93.392 billion USD.

As a result of the fourth quarter of 2017, Boeing’s profit increased 1.9 times, to 3.132 billion USD. The diluted earnings per share were 5.18 USD compared to 2.59 USD for the fourth quarter of 2016. At the same time, the experts expected the figure at 2.89 USD per share. The revenue for the three reporting months increased by 8.9%, reaching 25.368 billion USD.

At the end of 2018, Boeing expects earnings of 15.9-16.1 USD per share.

“We are focused on the growth of the company and the markets of the future, developing new products and services, investing in the development of vertical take-off and landing technology, launching the innovative HorizonX unit and expanding capabilities, including through the acquisition of Aurora Flight Sciences (an aviation research company)”, said the CEO of Boeing, Dennis Muilenburg.

Boeing produces a wide range of civil and military aircraft, as well as develops space programs. The structure of Boeing operates two large divisions – Boeing Commercial Airplanes, engaged in the construction of civil aircraft, and Integrated Defense Systems, which performs space and military programs. The company’s plants are located in 65 countries, the products are supplied to more than 150 countries. The workforce as of January 2018 is 141,300 people.

About James McGovern

James McGovern is from Arizona, USA. He is business analyst and writer at Finance Apprise Journal, responsible for finance and trading sections, as well as news from USA and Canada.

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