General Electric Co reported $2.18 billion in quarterly losses on Wednesday, hurt by weakness in its aviation and power units due to the COVID19 pandemic, but its free cash outflow came in better than expected.
General Electric Co 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.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor
Comments
0 comment