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Bombardier Profit Slips; Revenue, Backlog Jump

Wall Street Journal US Business •
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Bombardier reported a slight decline in second-quarter profit despite strong revenue growth and soaring demand for its flagship Global 8000 jet. The Canadian jet maker posted net income of $191 million, or $1.84 a share, down from $193 million, or $1.87 a share, a year earlier.

Adjusted earnings reached $2.50 a share, well above analyst expectations of $1.32 a share according to FactSet. Revenue rose 6% to $2.15 billion, exceeding projections of $2.12 billion, driven by a 14% increase in the services segment to $674 million.

The company also grew its backlog to $21.8 billion at quarter-end, reflecting sustained demand for its business aircraft.