Airbus second-quarter profits rise and beat analyst forecasts

Business

FILE PHOTO: An Airbus A350-1000 performs during the 53rd International Paris Air Show at Le Bourget Airport near Paris, France June 18, 2019. REUTERS/Pascal Rossignol/File Photo

PARIS (Reuters) – Airbus on Wednesday posted stronger-than-expected core second-quarter earnings, led by the switch to efficient new single-aisle jets, and maintained its profit forecast for the year while warning of delivery challenges in the second half.

Europe’s largest aerospace group said second-quarter adjusted operating profit rose 72% to 1.98 billion euros ($2.2 billion), led by a more-than-twofold rise at the main Airbus commercial planemaking arm. Revenues rose 23% to 18.317 billion.

Analysts were on average forecasting adjusted quarterly operating income of 1.774 billion euros on revenues of 17.824 billion, according to a company-compiled consensus.

Reporting by Tim Hepher; Editing by Sudip Kar-Gupta

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