Boeing Co Rises After Earnings, Abbott Laboratories Falls

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Boeing Co Rises After Earnings, Abbott Laboratories Falls
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Boeing Co (NYSE:BA) and Abbott Laboratories (NYSE:ABT) released their latest earnings reports before opening bell this morning. Boeing reported adjusted earnings of $2.47 per share on $23.29 billion in revenue. Analysts were looking for $2.34 per share in earnings and $23.13 billion in revenue. In the previous year’s fourth quarter, the airplane manufacturer posted $23.57 billion in sales.

Abbott Laboratories reported adjusted earnings of 65 cents per share on $5.3 billion in sales, which represents a 2.8% reported increase and 3.8% operational increase year over year. Analysts had been expecting earnings of 65 cents per share and $5.38 billion in revenue. The company had guided for earnings of 64 cents to 66 cents per share.

Boeing gives weak outlook

Boeing’s GAAP earnings rose to $2.59 per share from $1.51 per share in the same quarter a year ago. The company’s commercial airplanes revenue ticked upward by 1% year over year to $16.24 billion, missing the consensus of $16.53 billion. Military aircraft revenue plunged 18% to $2.62 billion, although that came out slightly ahead of the consensus at $2.61 billion.

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