DHAKA: The earnings outlook from the US planemaker Boeing has missed forecasts.

In a statement, the company said it expected to make between $8.15 and $8.35 a share with revenue between $93bn and $95bn, lower than forecasts of $9.41 per share from revenue of $97bn.

Shares dropped 9% in early trading in New York, reports the BBC.

Boeing said it expects to deliver 740 to 745 planes this year, down from 762 in 2015.

Net income in the fourth quarter fell to $1.03bn from $1.47bn a year earlier.

‘Boeing extended its leadership of the aerospace industry in 2015 with record deliveries and revenues in commercial airplanes, and solid sales and healthy margins in our defense and space business,’ said the president and chief executive Dennis Muilenburg.

And he sounded an upbeat note for the year ahead, despite the weaker forecast.

‘With clear strategies and strong positions in our markets, a large and diverse order backlog worth nearly $500bn, and multiple additional production rate increases planned yet this decade, we are well positioned for profitable growth and higher cash flow as we move into our second century in business,’ Muilenburg said.

The jetliner is celebrating 100 years of existence this year.

BDST: 1258 HRS, JAN 28, 2016
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