World News | Boeing Reports USD 6 Bn Quarterly Loss Ahead of Vote by Union Workers Who Crippled Production
Get latest articles and stories on World at LatestLY. Boeing reported a massive loss of more than USD 6 billion in its third quarter, dragged down by a work stoppage and charges tied to its commercial aircraft and defence programmes.
Everett (US), Oct 23 (AP) Boeing reported a massive loss of more than USD 6 billion in its third quarter, dragged down by a work stoppage and charges tied to its commercial aircraft and defence programmes.
Boeing lost USD 9.97 per share for the period ended Sept 30, with an adjusted loss of USD 10.44 per share. Analysts polled by Zacks Investment Research were calling for a loss of USD 10.34 per share.
Also Read | BRICS Summit 2024: India Supports Dialogue and Diplomacy, Not War, Says PM Narendra Modi (Watch Video).
Revenue totalled USD 17.84 billion, matching Wall Street estimates.
The biggest news of the day, however, is likely to come Wednesday evening, when the International Association of Machinists and Aerospace Workers reveals whether striking union members will return to factories after crippling production.
Also Read | Canada: Sikh Woman Found Dead Inside Walk-In Oven of Walmart Store's Bakery Department in Halifax.
They will vote at union halls in the Seattle area and elsewhere on a Boeing offer that includes pay raises of 35% over four years, USD 7,000 ratification bonuses, and the retention of performance bonuses that Boeing wanted to eliminate. (AP)
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)