American Airlines Group Inc. (NASDAQ: AAL) reported second quarter 2020 earnings results today.
Total operating revenues fell 86% to $1.62 billion. Passenger revenues were down almost 90% to $1.10 billion.
Net loss on a reported basis amounted to $2.1 billion, or $4.82 per share, compared to earnings of $662 million, or $1.49 per share, in the same period last year. On an adjusted basis, net loss was $3.4 billion, or $7.82 per share.
Passenger demand and load factors have improved since April, but continue to be significantly below 2019 levels. While May and June revenue trends were encouraging, demand weakened during July as COVID-19 cases increased and new travel restrictions were put into place. American currently expects its third quarter system capacity to be down approx. 60% year-over-year.
3D Systems Corp. (NYSE: DDD) Q2 2020 earnings call dated Aug. 05, 2020 Corporate Participants: Jessica Stansell -- Investor Relations Jeffrey A. Graves -- Chief Executive Officer And President Wayne Pensky -- Interim Chief Financial Officer Analysts:
Shares of Yelp (NYSE: YELP) were down over 15% on Friday, a day after the company reported a decline in revenue along with a net loss for the second quarter
The US economy added 1.8 million jobs in July, marking the third consecutive month of employment growth as the country recovers from the coronavirus pandemic that has caused widespread disruption.