Boeing Shares Drop Following Q3 Earnings and Revenue Miss
Boeing (BA) shares fell approximately 9.6% following the release of third-quarter earnings that missed analyst expectations on both top and bottom lines. The aerospace company reported a non-GAAP loss of $0.34 per share and revenue of $24.2 billion, falling short of projected losses of $0.24 per share and sales of $24.4 billion. Despite the misses, the company showed signs of operational improvement, including a 33% year-over-year increase in cash from operations to $1.5 billion and positive free cash flow of $500 million for the quarter. Boeing also highlighted long-term growth drivers such as a record commercial airplane backlog worth $745 billion and a significant $20 billion U.S. Navy contract for the F/A-XX stealth fighter jet.

Tickers: $BA
Topics: aerospace industry earnings miss free cash flow government contracts revenue miss
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