Hilton posted higher-than-expected Q2 losses

By: Miguel A. Rodriguez

09:45, 14 September 2020

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!

Sources: marketwatch.com

Share this article

The information presented herein is prepared by CAPEX.com/eu and does not intend to constitute Investment Advice. The information herein is provided as a general marketing communication for information purposes only and as such it has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is not subject to any prohibition on dealing ahead of the dissemination of investment research.                                                                                                                            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 and forecasts are not reliable indicators of future results.