July 29, 2020 / 10:37 AM / in 7 days

GE reports quarterly loss as coronavirus pandemic hits hard

July 29 (Reuters) - 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. (Reporting by Rachit Vats in Bengaluru; Editing by Saumyadeb Chakrabarty)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below