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Boeing misses 2Q profit forecasts

FILE - This June 16, 2015, file photo, shows the nose of a Boeing 787 Dreamliner prior to its demonstration flight at the Paris Air Show at Le Bourget airport, north of Paris. Boeing reports quarterly financial results on Wednesday, July 22, 2015. (AP Photo/Francois Mori, File) FILE - This June 16, 2015, file photo, shows the nose of a Boeing 787 Dreamliner prior to its demonstration flight at the Paris Air Show at Le Bourget airport, north of Paris. Boeing reports quarterly financial results on Wednesday, July 22, 2015. (AP Photo/Francois Mori, File)

By Associated Press July 22, 2015 1 min read

CHICAGO (AP) – CHICAGO (AP) – Boeing Co. (BA) on Wednesday reported second-quarter net income of $1.11 billion.

The Chicago-based company said it had profit of $1.59 per share. Earnings, adjusted for non-recurring costs, were $1.62 per share.

The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.71 per share.

The airplane builder posted revenue of $24.54 billion in the period, which beat Street forecasts. Seven analysts surveyed by Zacks expected $24.17 billion.

Boeing expects full-year earnings in the range of $7.70 to $7.90 per share, with revenue in the range of $94.5 billion to $96.5 billion.

Boeing shares have climbed 12 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed almost 3 percent. The stock has increased 9.5 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BA at http://www.zacks.com/ap/BA

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Keywords: Boeing, Earnings Report, Priority Earnings