) dropped with the late Tuesday announcement of the retirement of president and chief executive officer Duncan Middlemiss, who also submitted his resignation from the company’s board of directors.
“We see this sudden resignation as a further erosion in the market profile of WDO which has unfavourable overtones about the near-term future. We will reassess our opinion once we get an idea of who the next President and CEO may be.”) losses widened for 2022 on weakness in its defence unit but the U.S. planemaker reported its first yearly positive cash flow since 2018 on stronger commercial airplane deliveries.
Boeing reported fourth-quarter revenue of US$20-billion, up from US$14.79-billion in the same quarter in 2022, and a loss per share of US$1.75. Boeing had been expected to report US$20.38-billion in revenue in the quarter and a gain of 26 US cents a share, according to Refinitiv data. The company still faces supply-chain issues as it works to ramp up 737 MAX and 787 production and is working to improve results at its Boeing Defense unit, which posted a US$3.5-billion loss in 2022.
Microsoft’s shares rose 4 per cent initially after the results before reversing course to slip in Wednesday trading. The stock has fallen 18 per cent in the past 12 months. “There’s a variety of ways that we can bring that technology either in specific offerings or to improve existing offerings,” said Brett Iversen, Microsoft’s head of investor relations, referring to OpenAI. He said revenue from OpenAI-related businesses would show up in revenue for Microsoft’s cloud service Azure in the future.
Miners are also struggling with higher inflation, lower demand and rise in per-unit cost of production.
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