Boeing lost $425 million in the first quarter—more than Wall Street expected—but said Wednesday that it plans to boost production of its best-selling plane, the 737 Max, later this year.
Revenue rose 28 percent from a year earlier, as airlines scooped up new jets to meet rising travel demand, and the company stood by its forecast of producing $3 billion to $5 billion in cash flow this year.
Shares of Boeing rose nearly 5 percent before settling to close up less than 1 percent.
CEO David Calhoun called it a “solid first quarter.”
“We continue to make real progress, steady progress, in our recovery,” he said on a call with analysts. “Challenges remain, there’s more to do, but overall we feel good about the operational and financial outlook.”…