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Operator
Thank you for standing by. Good day, everyone, and welcome to the Boeing Company s second-quarter 2021 earnings conference call. Today s call is being recorded. The management discussion and slide presentation, plus the analyst question-and-answer session, are being broadcast live over the Internet.
[Operator instructions] At this time, for opening remarks and introductions, I m turning the call over to Ms. Maurita Sutedja, vice president of investor relations for the Boeing Company. Ms. Sutedja, please go ahead.
Maurita Sutedja
Vice President of Investor Relations
Thank you, John. Thank you, and good morning. Welcome to Boeing s second-quarter 2021 earnings call. I m Maurita Sutedja, and with me today are David Calhoun, Boeing s president and chief executive officer; and Dave Dohnalek, Boeing s interim chief financial officer.
Boeing returns to profitability, drops layoff plans
By
Chris Isidore, CNN Business
Published Jul 29, 2021 11:40:39 AM
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(CNN) Boeing returned to profitability in the second quarter, posting net income for the first time since the start of the Covid-19 pandemic last year, a recovery that will save 10,000 jobs at the company.
Boeing earned $567 million in the quarter, compared to a $2.4 billion loss a year earlier. Analysts had forecast another loss of $161 million, and had not expected Boeing to return to profitability until later this year.
But revenue of $17 billion exceeded estimates by nearly $500 million, helping to lift results. Shares of Boeing jumped 5% in midday trading on the news.
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