Why Boeing Stock Is Flying Higher Today
Shares of Boeing (NYSE: BA) are soaring today, up by 4.9% as of 12:45 p.m. EDT, after the company released its Q2 report. Investors were caught by surprise when Boeing turned profitable in the second quarter even though its backlog value isn't growing much.
Boeing trumped analyst estimates this morning, with core operating earnings of $755 million for its second quarter compared to an operating loss of $3.3 billion in the year-ago period. Boeing earned $0.40 in operating earnings per share versus analysts' consensus estimate of an operating loss of $0.72 per share.
Boeing's second-quarter revenue shot up 44% year over year to $17 billion, driven by a surge in commercial airplane deliveries -- Boeing delivered 79 commercial planes versus only 20 in Q2 2020, including 47 737 MAX aircraft.
Source Fool.com
