Earnings

2020 net loss hits record $11.9 billion

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The Boeing 737 Max airplane prepares to land after a test flight in Seattle, Washington, Sept. 30, 2020.

Mike Siegel | The Seattle Times | Bloomberg via Getty Images

Boeing reported a record net loss that topped $11.9 billion in 2020 — results that worsened after it pushed out when it expects to start deliveries of its 777X plane to late 2023, taking a $6.5 billion charge in the fourth quarter against that wide-body program as the coronavirus pandemic hits aircraft demand.

Boeing’s shares were down close to 3% in mid-morning trading, helping drag down the broader market.

The company lost a whopping $15.25 a share in the fourth quarter on an adjusted basis that took Wall Street by surprise;…



Source cnbc.com

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