Boeing Profits Down in Q2 But Company Sees Better Times Ahead

Profits off 21%

Boeing announced on July 28 a sharp 21% drop in second quarter profits, amid falling revenue and fewer deliveries of aircraft.

The firm's second-quarter profit was $787 million.

Revenue fell 9% to $15.6 billion over the last three months, below Wall Street expectations, which averaged $16.3.billion.

But Boeing put a positive spin on the results, saying the company expected business to pick up as the economy moved past the worst of the recession, prompting new commercial and government orders.

"With our commercial markets recovering, and the priorities of our government customers gaining clarity, we remain well positioned for growth in 2011 and beyond," said Jim McNerney, Boeing CEO.

The aerospace firm said it was on track to earn between $64 billion to $66 billion in revenue for the 2010 year.

Copyright Agence France-Presse, 2010

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