Bombardier beats quarterly earnings expectations, shares rise

The company said it expected earnings before interest and taxes to beat its own projections in 2017.

Revenue for what was the company's second quarter slipped to $4.09 billion compared with almost $4.31 billion a year ago.

The quarterly results prompted the company to say its earnings before interest and taxes for the full year will come in at the top end of its previously forecasted range of between $580 million USA and $630 million US.

On an adjusted basis, Bombardier says it earned $39 million or two cents per share for the quarter compared with a loss of $83 million or six cents per share a year ago. Bombardier shares were trading up 6 percent at C$2.56 late on Friday morning. The company has faced questions over the progress of its CSeries and Global 7000 luxury aircraft, but sales saw a boost aided by an increase in production. Though there were several positives, Bombardier still reported a $296 million dollar second-quarter loss due to restructuring costs - representing a loss of $0.13 per share. Leaked details suggest that Bombardier would take more than a 50% stake in joint rolling stock operation, while Siemens would take an 80% stake in a joint venture for signaling technology.

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