General Electric Company (NYSE: GE) reported its financial results for the quarter ended March 31, 2020 today.
GE posted a 73% jump in earnings for the first quarter of 2020 driven by a gain from the sale of BioPharma and an unrealized loss on marking GE’s investment in Baker Hughes to market. The top-line declined by 8% due to the uncertainty associated with the rapid spread of COVID-19 pandemic.
GE said the impact from COVID-19 materially challenged its first-quarter results, especially in Aviation, where a dramatic decline in commercial aerospace is seen as the virus spread globally in March. The company expects over $2 billion in operational cost out and $3 billion of cash preservation to mitigate the financial impact. The company has earlier withdrawn its financial guidance for the full-year 2020.
Walt Disney (DIS): After a tough FY20, the pandemic is likely to take a toll on operations next year too
The Walt Disney Company (NYSE: DIS) had a tough time in fiscal year 2020 with the COVID-19 pandemic bringing its operations to a standstill like never before. The company incurred
The recent optimism about economic recovery waned slightly this week after jobless claims increased more-than-expected to about 778,000 amid concerns over a resurgence in coronavirus cases. With the healthcare system
Yunji Inc. (NASDAQ: YJ) Q3 2020 earnings call dated Nov. 26, 2020 Corporate Participants: Kaye Liu -- Investor Relations Director Shanglue Xiao -- Chairman of the Board of Directors and Chief Executive Officer Chen