Shares in plane-making giant Boeing (NYSE:BA) took a dive on Wednesday as it missed market expectations in its fourth quarter of 2015.
The firm now forecasts lower-than-estimated 2016 core earnings, due to fewer commercial planes being delivered this year, as fourth quarter results failed to impress the market.
The company said it expects 2016 core earnings, which analysts had expected to be around US$9.43 per share to be between US$8.15 and US$8.35 per share.
Shares, which so far this month have dropped around 17%, were another 8% lower at US$117.71.
It comes despite slightly beating estimates for 2015, with 762 jets made last year compared to the 755-760 expected.
The Dow Jones constituent’s net income dropped to US$1.03bn, or US$1.51 per share, in the fourth quarter to December, from US$1.4bn, or US$2.02 per share, the year before, while revenue fell about 4% to US$23.5bn.
Shares eased 4.67% to stand at US$119.42.