Airplane maker Boeing said Wednesday it lost $1.6 billion in its third quarter as charges from its delayed 787 and a new version of its 747 jumbo jet weighed down results. It also slashed its profit forecast for 2009.
Shares of the Chicago-based airplane maker fell $1.29, or 2.5 percent, to $50.60 in pre-market trade.
Weak demand for air travel and cargo services has undermined demand for Boeing's jetliners since the global economy deteriorated late last year. Some customers have been forced to cancel or delay plans to buy new aircraft.
But Boeing, the world's second-largest commercial plane maker after Europe's Airbus, has had its own problems, too: production setbacks have delayed its eagerly awaited 787 and 747-8 jets, resulting in hefty charges.
The company said its quarterly loss amounted to $2.23 per share. During the same period last year, Boeing earned $695 million, or 96 cents per share. A labor strike and problems with suppliers reduced year-earlier profit by 60 cents per share and revenue by an estimated $2.1 billion.
Revenue rose 9 percent to $16.69 billion.
Analysts surveyed by Thomson Reuters, on average, expected a loss of $2.12 per share on revenue of $17.16 billion. Wall Street estimates typically exclude one-time charges.
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