GE profitable again in Q1

- AFP, New York

Apr 22, 2017-

General Electric swung back to profitability in the first quarter on Friday as its aviation and power businesses scored strong operating profits growth. GE reported $619 million in profits in the three months ending March 31. Revenues dipped 0.7 percent to $27.7 billion. Operating profits growth was strongest in power, aviation and renewable energy. But oil and gas remained a weak point, with operating profits falling 33 percent to $207 million, an indication that the market for oilfield services remains pressured after a two-year slump in oil prices that has abated in recent months. 

Published: 22-04-2017 08:35

User's Feedback

Click here for your comments

Comment via Facebook

Don't have facebook account? Use this form to comment