Boeing's 3Q Profit Dives 38 Percent

By: AP
By: AP

Airplane maker Boeing Co. says its third-quarter profit tumbled about 38 percent as a Machinists' strike, and supplier production problems hurt results. The Chicago-based aerospace company says it earned $695 million dollars in the quarter, down from $1.11 billion a year earlier.

The strike and production problems reduced Boeing's airplane deliveries, cutting profit by 60 cents per share during the period. Quarterly revenue dipped 7 percent to $15.29 billion.

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