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Industrial segment operating profit fell to $5.52 billion from
$5.99 billion a year earlier.
Total profit jumped 22 percent to $6.28 billion, or 64 cents per
share, from $5.15 billion, or 51 cents per share. Total revenue
rose 1.4 percent to $33.89 billion.
Adjusted earnings of 52 cents a share beat the average analyst
estimates of 49 cents a share, according to Thomson Reuters
I/B/E/S.
Shares fell 1.7 percent to $28.10 in premarket trading.
The results showed the impact of falling energy prices on GE's
large oil and gas business. Total industrial revenue fell 1
percent in the quarter, pulled down by a 16 percent drop in oil
and gas revenue. That was offset by 5 percent growth in aviation
revenue and a 20 percent rise in energy management revenue, GE
said.
The results also were colored by a host of one-time factors
including closing the purchase of Alstom SA's power business,
separating GE's renewable energy business from the power
segment, a break-up fee for the failed sale of its appliance
business to Electrolux AB and other restructuring costs, GE
said.
(Reporting by Ankit Ajmera in Bengaluru and Alwyn Scott in New
York; Editing by Kirti Pandey and Jeffrey Benkoe)
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