Advertisement

  • News
  • Columns
  • Interviews
  • BW Communities
  • Events
  • BW TV
  • Subscribe to Print
  • Editorial Calendar 19-20
BW Businessworld

GE Reports Quarterly Loss As Coronavirus Pandemic Hits Hard

Loss per share from continuing operations came in at 27 cents in the second quarter ended June 30, compared with 3 cents a year earlier.

Photo Credit :

1587986333_oKJ0Vt_2020_04_27T110650Z_1_LYNXNPEG3Q0RA_RTROPTP_4_GE_FRANCE.JPG

General Electric Co reported $2.18 billion in quarterly losses on Wednesday, hurt by weakness in its aviation and power units due to the COVID-19 pandemic, but its free cash outflow came in better than expected.

Free cash outflow from industrial operations totalled $2.1 billion, it said.

Loss per share from continuing operations came in at 27 cents in the second quarter ended June 30, compared with 3 cents a year earlier. On an adjusted basis, GE reported a loss of 15 cents per share.

Total revenue fell 24% to $17.75 billion.

(Reuters)


Tags assigned to this article:
general electric company automakers COVID-19