For large American companies, the most recently completed quarter was the most extreme in years, as the coronavirus pandemic shook up consumer habits and the economy at large, the Wall Street Journal reported. Overall, revenue for the companies in the S&P 500 index is on track to fall 9.2 percent year over year for the most recently completed quarter, based on actual results and estimates for those companies yet to report, FactSet said. This is below the five-year average revenue growth rate of 3.7%, the data tracker said, and would be the largest year-over-year revenue decline since the third quarter of 2009. Some of the biggest revenue gainers involve companies that benefit from people spending more time living and working at home. These include companies that deliver key products, entertainment and services to homebound customers and workers. Meanwhile, companies feeling more pain from the pandemic include those that are connected to travel and tourism, depend on customers leaving their homes, and rely on advertising and special events.
