Hilton took a hard hit from the pandemic
The hotels & resorts giant Hilton posted its Q2 earnings or better said losses.
During the second quarter of 2020, its revenue dropped 77% to $564 million, from last year’s $2.48 billion. However, it came lower than the $818.8 million consensus.
The giant reported a net loss of $430 million, or $1.55 per share. During the same quarter last year, it had a net income of $260 million, or 89 cents/share.
Hilton posted an adjusted loss/share double than the 31 cents forecasted.
Overall, cash and cash equivalents figures came in at $3.58 billion, while the long-term debt is $10.3 billion.
After the report, the Hilton share price slipped by 0.3%. Since January, the stock price fell 27.9%, while USA500 added 3%.
See what other companies have suffered during the pandemic on CAPEX.com!
Users/readers should not rely solely on the information presented herewith and should do their own research/analysis by also reading the actual underlying research. The content herewith is generic and does not take into consideration individual personal circumstances, investment experience or current financial situation.
Therefore, Key Way Investments Ltd shall not accept any responsibility for any losses of traders due to the use and the content of the information presented herein. Past performance is not a reliable indicator of future results.