Boeing Co, T-Mobile US Inc Rise After Earnings

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Boeing Co, T-Mobile US Inc Rise After Earnings
By T-Mobile (File derived from T-Mobile logo.svg) [Public domain], via Wikimedia Commons

Boeing and T-Mobile U.S. released their latest earnings before opening bell this morning. Boeing posted an adjusted loss of 44 cents per share, which was much better than the expected loss of 92 cents per share. The defense contractor’s revenue was $24.5 billion, compared to the consensus of $24.2 billion. In last year’s second quarter, Boeing reported $24.5 billion in sales.

T-Mobile reported earnings of 25 cents per share on $9.2 billion in revenue, representing a 12.8% year over year increase. Analysts had been expecting 20 cents per share in earnings on $9.03 billion in revenue.

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Boeing swings to a loss

Boeing’s GAAP loss per share was 37 cents, compared to last year’s GAAP earnings of $1.59 per share. The loss includes $3.23 per share in impacts from the reclassification of the 787 research and development and 747 and Tanker charges. The company said commercial deliveries and services growth were strong and its backlog was robust at $472 billion and almost 5,700 orders for commercial airplanes.

Boeing reiterated its full-year revenue guide of $93 billion to $95 billion. However, the defense contractor cut its full-year GAAP earnings guide to between $6.40 and $6.60 per share from the previous guide of $8.45 to $8.65 per share. The company also lowered its non-GAAP earnings outlook to between $6.10 and $6.30 per share from the previous guide of $8.15 to $8.35 per share. However, this is still better than what Wall Street is expecting, which is $5.34 per share in earnings.

Shares of Boeing jumped by as much as 2.62% to $138.38 per share in premarket trading.

T-Mobile’s earnings fall

T-Mobile’s GAAP earnings declined to 25 cents per share from 42 cents per share last year. The mobile carrier added 1.9 million net customers, marking the 13th quarter in a row of more than 1 million net customer adds. It reported 890,000 branded postpaid net adds and 646,000 branded postpaid phone net adds. Service revenues grew 12.1% to $6.9 billion. Adjusted EBITDA grew 35.6% to $2.5 billion, while average revenue per branded postpaid phone user increased 1.9% to $47.11.

T-Mobile increased its outlook for postpaid net adds to between 3.4 million and 3.8 million from the previous guide of 3.2 million to 3.6 million. The mobile carrier also narrowed its outlook for adjusted EBITDA to between $9.8 billion and $10.1 billion from the previous guide of $9.7 billion to $10.2 billion.

Shares of T-Mobile U.S. surged by as much as 3.4% to $46.51 in premarket trading this morning.

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