Boeing is getting slammed
Boeing shares slid by as much as 5% pre-market on Wednesday after the airplane manufacturer provided guidance for revenues that fell short of expectations.
In its release, Boeing said it expects 2016 revenues to be between $93 billion and $95 billion, missing analysts' expectation for $97.3 billion.
The company reported a 6% jump in full-year 2015 revenues to $96.1 billion on the back of strong deliveries of commercial aircraft.
Fourth-quarter adjusted earnings per share were $1.60 ($1.28 expected), and revenues totaled $23.53 billion (in line with expectations.)
Last week, Boeing announced that it would cut production on its 747-8 jets to match demand in the cargo market. The company recorded a $569 million charge in Q4 results.
Over the last 12 months, Boeing shares have dropped 5%.Google