Boeing’s Network & Space Systems business unit posted higher second-quarter operating income and revenue than a year ago, but overall the giant NASA contractor fell into the red on big R&D expenses at its commercial airplane division.
The red ink was less than anticipated, so Boeing shares rose on the news. The stock (NYSE: BA) ended a broadly ho-hum June 27 trading session up $1.11, or almost 1 percent, at $135.96.
The Chicago-based company reported a quarterly loss totaling $234 million. That compared with $1.11 billion in net income in the same period a year earlier.
Overall, quarterly revenue rose 1 percent to $24.76 billion.
Boeing’s Network & Space Systems unit posted a 1% jump in three-month operating income to $153 million. Those operations reported a 7 percent increase in revenue to $1.81 billion.