Boeing reported a smaller than expected first-quarter loss after an increase in aircraft deliveries, giving some respite to the US plane maker after a turbulent year.
The aerospace and defence group said it incurred a net loss of $31mn in the first three months of the year, significantly lower than the $355mn loss it reported in the same period last year. Revenues in the quarter rose 18 per cent to $19.5bn amid higher aircraft deliveries. The company had negative free cash flow of $2.3bn, compared with a negative $3.9bn in the same period last year.
On an adjusted basis, Boeing reported a loss per share in the quarter of $0.49, down from a loss of $1.13 per share a year earlier and less than the loss of $1.24 per share expected by analysts.
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