CHICAGO, IL. – Boeing is reporting a money-losing quarter, as both its civilian-airplane division and the defense business are struggling.
Boeing announced on Wednesday, April 27th, that it lost $1.2 billion in the first quarter of 2022 and took large write-downs for several programs.
The loss was worse than Wall Street expected and Boeing’s quarterly revenue also fell short of expectations.
Boeing is trying to offer investors some hope, however.
The company says it has submitted plans to resume deliveries of its 787 airliner, which has been plagued with production problems.
Boeing is also seeing more production and deliveries of the 737 Max.