General Electric Continues Its Slow Recovery
The COVID-19 pandemic hit at a bad time for General Electric (NYSE: GE). GE finally seemed to be gaining momentum in early 2020 after several tough years, but the pandemic disrupted its business: particularly its ultra-profitable aviation unit.
The pandemic continued to take a toll on General Electric -- especially GE Aviation -- last quarter. However, while it will take at least two more years for GE to recover fully, the company's turnaround remains on track.
GE generated $18.3 billion of revenue in the second quarter, including industrial organic revenue of $16.9 billion, sliding in just ahead of the analyst consensus. Revenue grew solidly on a year-over-year basis but remains well below pre-pandemic levels.
Source Fool.com
