Europe's Airbus reported sharply lower second-quarter profits today as the cost of investing in higher jetliner production, coupled with largely pre-announced charges in its Space Systems business, outweighed higher revenue.
The world's largest planemaker said adjusted operating profit fell by more than half to 813 million euros in the quarter as revenue edged up to 15.995 billion euros.
It also took a charge of 989 million euros on forward losses in its space business, slightly higher than the estimate of about 900 million euros given with a profit warning last month.
Analysts were on average expecting second-quarter adjusted operating income of 699 million euros on revenue of 15.822 billion, according to a survey compiled by the company.
