BUSINESS Boeing reports $3.3 bn loss due to rising defense program costs

BUSINESS

Boeing reports $3.3 bn loss due to rising defense program costs

AFP

20:09, October 26, 2022

File photo

Boeing reported a surprise $3.3 billion third-quarter loss Wednesday because of swelling costs on several defense programs due in part to supply chain expenses.

The aviation giant reported a four percent rise in revenues to $16 billion, which also missed analyst estimates. On the up side, Boeing reaffirmed it is on track for positive free cash flow in 2022.


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