GE reports quarterly loss as coronavirus pandemic hits hard
Reuters
Published Jul 29, 2020 06:37AM ET
(Reuters) - General Electric Co (N:GE) reported $2.18 billion in quarterly losses on Wednesday, hurt by weakness in its aviation and power units due to the COVID-19 pandemic, but its free cash outflow came in better than expected.
Free cash outflow from industrial operations totalled $2.1 billion, it said.
Loss per share from continuing operations came in at 27 cents in the second quarter ended June 30, compared with 3 cents a year earlier. On an adjusted basis, GE reported a loss of 15 cents per share.
Total revenue fell 24% to $17.75 billion.
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Written By: Reuters
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