WALTHAM, Mass. (AP) _ Raytheon Technologies Corporation (RTX) on Tuesday reported a second-quarter loss of $3.84 billion, after reporting a profit in the same period a year earlier.
The Waltham, Massachusetts-based company said it had a loss of $2.55 per share. Earnings, adjusted for one-time gains and costs, came to 40 cents per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 10 cents per share.
The an aerospace and defense company posted revenue of $14.06 billion in the period.
Raytheon Technologies shares have dropped 59% since the beginning of the year. The stock has declined 55% in the last 12 months.