Reported 2 days ago
Boeing reported an $11.8 billion annual loss, its largest in four years, amid production challenges and fallout from a strike. However, shares rose 6% as the company announced progress in ramping up production, particularly of its popular 737 jets, with plans to exceed the current production cap later this year. CEO Kelly Ortberg aims to restore stability following operational disruptions and is working on cultural reforms within the company. Boeing's defense segment also saw significant losses due to cost overruns, while overall revenue dropped significantly, missing analyst expectations.
Source: YAHOO