Covid Pummeled U.S. Businesses Into Their Worst Quarter in a Decade. But Not All Suffered.

Delta Air Lines Inc.’s sales declined 88% from a year ago. Inc.’s revenue grew 40%. Coca-Cola Co.’s fell 28%. 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.

Overall, revenue for the companies in the S&P 500 index is on track to fall 9.2% 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.

A Wider Spread

More companies have reported a decline in revenue for the most recently completed quarter, compared with the year-ago period. And, overall, the range of year-over-year revenue changes is wider than in recent years.

Number of companies by change in revenue from a year earlier