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.

General Electric Company Q2 2020 earnings infographic

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.

Looking forward to listening to management/analysts’ comments on Q2 results? Stay tuned here for GE’s Q2 2020 earnings call transcript 

GE stock closed the last trading session higher and gained further during Wednesday’s pre-market session.

Most Popular

Electronic Arts (EA) Q4 earnings drop and miss estimates; revenue down 3%

Video game company Electronic Arts, Inc. (NASDAQ: EA) reported lower earnings and revenues for the fourth quarter of 2021. Earnings also missed analysts' forecast. During the March quarter, net bookings

What lies in store for Tyson Foods (TSN) this year?

Shares of Tyson Foods Inc. (NYSE: TSN) were in green territory during afternoon hours on Tuesday. The stock has gained 32% over the past 12 months and 23% since the

Virgin Galactic (SPCE) fails to impress market amid looming uncertainty

Space tourism company Virgin Galactic Holdings, Inc. (NYSE: SPCE) ended the first quarter of 2021 without generating revenue and continued the losing streak even as uncertainty over its test flight

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top