Boeing boosts 2017 forecast as it returns to second quarter profitability

New York: Boeing reported better-than-expected quarterly profits Wednesday and lifted its full-year profit forecast, citing a strong operational performance and tax savings not anticipated earlier in the year. Net income in the second quarter was $1.8 billion (Dh6.6 billion), up from the $234 million loss in the year-ago period due to one-time costs on its military and commercial aircraft programmes. Revenue fell 8.1 per cent to $22.74 billion. Commercial aircraft deliveries fell to 183 from 199. Boeing said it continues to expect to deliver 760-765 commercial aircraft in 2017.