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
PG Earnings: Procter & Gamble Q3 profit climbs, beats estimates
Consumer goods behemoth The Procter & Gamble Company (NYSE: PG) announced financial results for the third quarter of 2024, reporting a double-digit growth in net profit. Sales rose modestly. Core
AXP Earnings: All you need to know about American Express’ Q1 2024 earnings results
American Express Company (NYSE: AXP) reported its first quarter 2024 earnings results today. Consolidated total revenues, net of interest expense, increased 11% year-over-year to $15.8 billion, driven mainly by higher
Netflix (NFLX) Q1 2024 profit tops expectations; adds 9.3Mln subscribers
Streaming giant Netflix, Inc. (NASDAQ: NFLX) Thursday reported a sharp increase in net profit for the first quarter of 2024. Revenues were up 15% year-over-year. Both numbers exceeded Wall Street's
