JPM earnings

The world’s top airplane-maker Boeing Co. (NYSE:BA) sales and profits slid at last year, mainly affected by lower deliveries of its military planes.

US giant Boeing Co. (NYSE:BA) reported sales of $94.6 billion, drop 2%, and net earnings of $4.9 billion, 5% lesser.

SEATTLE, WA-based company also said revenues were likely to slipup more in 2017, to between $90.5 billion and $92.5 billion.

Meanwhile the US giant also predicts to supply more commercial aircraft and to enhance its earnings per share.

“Looking forward, our team is intent on accelerating productivity and programme execution,” said chairman and chief executive Dennis Muilenburg.

During the time, Boeing managed to make a 748 commercial aircraft deliveries, down from 762 in 2015, however topped the market for “the fifth successive year”.

Also the company delivered fewer military planes, specifically, its new CH-47 Chinook helicopter and its F/A-18 fighter jet, while sales in the division glided 7%.

Revenue also fell in the firm’s space and services divisions because of weaker demand for satellites and aircraft modernization.

Nevertheless, company‚Äôs overall group earnings jumped 59% in the fourth quarter of the year as demand for the company’s commercial planes surged.

Furthermore Boeing Co. (NYSE:BA) also estimated higher commercial deliveries in 2017 to range between 760 and 765 aircraft.