Categories AlphaGraphs, Earnings, Industrials
General Electric (GE) slips to loss in Q2; revenue falls 24% but beats view
General Electric Company (NYSE: GE) reported a net loss for the second quarter of 2020, reflecting a sharp fall in revenues. The bottom line missed the Street view, while revenues exceeded the forecast.
The engineering conglomerate reported a loss of $0.15 per share for the June-quarter, on an adjusted basis, compared to earnings of $0.15 per share in the year-ago period. Analysts were looking for a narrower loss. On an unadjusted basis, the company reported a loss of $0.26 per share, compared to a loss of $0.01 per share last year.
The bottom-line was impacted by a 24% fall in revenues to $17.75 billion as total ordered declined 38% to $13.8 billion. However, the top line came in above the market’s projection.
GE stock closed the last trading session higher and gained further during Wednesday’s pre-market session.
Most Popular
INTU Earnings: Intuit Q1 2025 adj. profit rises on higher revenues
Financial technology company Intuit Inc. (NASDAQ: INTU) Thursday announced results for the first quarter of 2025, reporting a modest increase in adjusted earnings. The Mountain View-headquartered company’s first-quarter revenue came
Riding the AI wave, Nvidia looks set to stay on the high-growth path
After delivering strong results for the third quarter, Nvidia Corporation (NASDAQ: NVDA) this week said the launch of its new-generation Blackwell chip is on track. The company is thriving on
Target (TGT): A look at some of the challenges faced by the retailer in 3Q24
Shares of Target Corporation (NYSE: TGT) stayed green on Thursday, recovering from the stumble it took a day ago after delivering disappointing results for the third quarter of 2024 and
