Why Boeing Shares Are Flying Higher Today
Portfolio Pulse from Akanksha Bakshi
Boeing Co's Q2 FY23 results beat Street expectations with an 18% YoY revenue increase to $19.75 billion. The company recorded a loss from operations of $99 million, compared to a profit of $780 million a year ago. Commercial Airplanes revenue increased by 41% YoY to $8.84 billion, and deliveries increased by 12%. The company reduced its debt to $52.3 billion from $55.4 billion during the quarter. BA shares are trading higher by 3.88% at $222.43 premarket on Wednesday.
July 26, 2023 | 1:27 pm
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Boeing's Q2 FY23 results exceeded expectations, driving its shares up by 3.88% in premarket trading. The company's revenue increased by 18% YoY, and it reduced its debt from $55.4 billion to $52.3 billion.
Boeing's better-than-expected Q2 FY23 results have positively impacted its stock price. The 18% YoY revenue increase and the reduction in debt are positive indicators of the company's financial health, which can boost investor confidence and drive up the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100