Even Apple, one of the most profitable companies in the world, declined to provide a forecast. Of course, for companies in the hardest-hit industries like airlines and logistics, the downturn could last a while and sales will not quickly snap back. “Historically, it has taken years, typically five or more, for business travel to recover,” Gary C. Kelly, chief executive of Southwest Airlines, said last week. Southwest was one of the companies that did not provide an earnings projection. Stock analysts expect the company to lose $3.86 per share this year, a sharp swing from a profit of $4.27 per share last year.

Source: New York Times May 05, 2020 18:13 UTC