Boeing's revenues rise to $17.9bn and net loss shrinks to $425m

Boeing has published its financial results for the first quarter of 2023. The American manufacturer was able to improve many indicators, although it is still suffering net losses.

Here's What We Know

In the reporting period, Boeing's revenue increased by 28% to $17.921 billion compared to $13.991 billion in the first quarter of 2022. The company was able to deliver 130 aircraft in the three months compared to 95 a year earlier. They generated revenue of $6.704 billion. Revenue in the Defense, Space & Security category increased 19% to $6.539 billion.

Boeing posted another loss for the first quarter, but its amount decreased nearly threefold as compared to the base period - $425 million versus $1.242 billion. The loss per share was $0.69 against $2.06 a year ago.

After the publication of the financial statements, Boeing's securities went up 4%. The U.S. company said it plans to boost 737 Max deliveries to 38 airliners a month by the end of the year. Total deliveries of Boeing 737 Max planes are expected to reach 400-450 units by the end of 2023.

Source: Boeing