GE Vernova Inc. shared on Wednesday that its third-quarter revenue for fiscal 2024 amounted to $8.9 billion, registering an 8% increase year-over-year.
The Massachusetts-based electric services giant reported a net loss of $99 million, an improvement compared to the $185 million loss recorded in the prior year, while diluted loss per share stood at $0.35, down from $0.62 in 2023.
"GE Vernova had a solid third quarter, delivering double-digit orders and continued revenue growth with services strength across all segments, significant margin expansion in Power and Electrification, and substantial cash generation,” CEO Scott Strazik commented.
Following the earnings announcement, the company's stock declined 5.47% during the premarket trading.
