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The
Boston-based maker of power plants, aircraft engines,
locomotives and medical equipment said revenue fell 2.4 percent
to $33.1 billion, slightly below Wall Street expectations of
$33.6 billion.
Net income from continuing operations attributable to GE
shareholders rose to $3.48 billion, or 39 cents a share, from
$2.57 billion, or 26 cents a share, a year earlier.
Excluding special items, earnings fell 2 percent to 46 cents a
share, matching the analysts' average estimate compiled by
Thomson Reuters I/B/E/S.
GE said in December it expected revenue growth of 3 percent to 5
percent this year, excluding acquisitions, figures it affirmed
on Friday.
Shares of GE were down 1.4 percent at $30.76 in premarket
trading.
In the company's oil and gas operation, sales fell 22 percent to
$3.4 billion, and profit dropped 43 percent to $411 million, due
to weakness in that sector.
Sales in the power plant business increased 20 percent to $8.5
billion, or 6 percent excluding the benefits of its Alstom
acquisition. The division booked $11 billion in orders during
the quarter, up 16 percent from a year earlier, and profit rose
27 percent.
(Additional reporting by Ankit Ajmera in Bengaluru; Edited by
Lisa Von Ahn)
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