Boeing Posts Surprise Q2 Profit
The dual crises of the 737 MAX grounding and the COVID-19 pandemic have weighed heavily on Boeing's (NYSE: BA) business since early 2019. The aerospace giant posted big losses in 2019 and 2020 -- particularly last year -- and burned a stunning $24 billion of cash over the two years combined.
Boeing took a step in the right direction last quarter, reporting its first quarterly profit in nearly two years. That said, the company's unexpected return to profitability doesn't mean investors should expect smooth sailing.
Boeing generated $17 billion of revenue in the second quarter. While this is a far cry from the $24.3 billion of revenue it brought in during Q2 2018 -- before the 737 MAX grounding and the pandemic -- this represented a 44% year-over-year increase and a 12% sequential revenue improvement.
Source Fool.com
