GE reports quarterly loss as coronavirus pandemic hits hard
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[BENGALURU] General Electric Co reported US$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 US$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 per cent to US$17.75 billion.
REUTERS
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