Boeing Co on Wednesday posted its first quarterly profit in almost two years, as deliveries of its best-selling 737 MAX jets to airlines gained traction amid a sharp rebound in travel bookings following an increase in global COVID-19 vaccinations. Boeing shares were up 3.8% in premarket trading following the results. Boeing said it is building 16 737 MAX jets per month at its Seattle-area factory. Boeing's core operating profit was $755 million in the second quarter ended June 30, compared with a loss of $3.32 billion a year earlier. Analysts had on average expected Boeing to report a quarterly loss of $454.8 million on revenue of $16.54 billion, according to IBES data from Refinitiv.

Source: The Star July 28, 2021 12:33 UTC