By Mauro Orru
Airbus posted earnings and revenue above analysts' expectations in the third quarter, highlighting diverging fortunes with Boeing a week after the beleaguered company reported a multibillion-dollar loss.
The European plane maker reported 983 million euros ($1.06 billion) in net profit, up 22% on year. Adjusted earnings before interest and taxes--Airbus's preferred measure of profitability--climbed 39% to 1.41 billion euros.
Meanwhile, revenue grew 5% to 15.69 billion euros.
Analysts had forecast a net profit of 918 million euros, adjusted EBIT of 1.20 billion euros and revenue of 15.30 billion euros, according to a market consensus provided by the company based on estimates from 20 analysts.
For the year, Airbus said it continued to expect adjusted EBIT of around 5.5 billion euros. Free cash flow before customer financing--a metric closely watched by analysts and investors--is projected at around 3.5 billion euros.
Write to Mauro Orru at mauro.orru@wsj.com
(END) Dow Jones Newswires
October 30, 2024 13:08 ET (17:08 GMT)
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