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1/27, 1:33 PM (Source: TeleTrader)
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Boeing's revenue falls 15% to $15.3 billion in Q4

Boeing's revenue fell 15% year on year in the final quarter of 2020 to $15.3 billion, the company announced on Wednesday. The aircraft maker said its GAAP net loss grew from $1.01 billion in the fourth quarter of 2019 to a loss of $8.44 billion in the fourth quarter of last year. Meanwhile, Boeing's loss per share in the fourth quarter amounted to $14.65, increasing from a loss of $1.79 a year ago.

In the full year 2020, Boeing's revenue dropped by 24% to $58.1 billion compared to 2019. On an annual basis, the company posted a GAAP net loss of $11.94 billion or a loss per share of $20.88.

"2020 was a year of profound societal and global disruption which significantly constrained our industry. The deep impact of the pandemic on commercial air travel, coupled with the 737 MAX grounding, challenged our results. I am proud of the resilience and dedication our global team demonstrated in this environment as we strengthened our safety processes, adapted to our market and supported our customers, suppliers, communities and each other," CEO Dave Calhoun said.

Boeing stocks fell 0.9% in premarket trading at 7:39 am ET.

Breaking the News / VP