Company News: General Electric (GE) reports an unexpected quarterly loss

Market news

29 April 2020

Company News: General Electric (GE) reports an unexpected quarterly loss

General Electric (GE) reported Q1 FY 2020 loss of $0.05 per share (versus earnings of $0.14 per share in Q1 FY 2019), missing analysts' consensus estimate of earnings of $0.08 per share.

The company's quarterly revenues amounted to $20.524 bln (-24.8% y/y), roughly in line with analysts' consensus estimate of $20.345 bln.

The company also said it expected Q2 financial results to decline sequentially due to pressure from COVID-19 and withdrew its FY 2020 guidance.

GE fell to $6.69 (-1.62%) in pre-market trading.

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