The Rising Influence of Rising Affluence

[DewDiligence]

GE’s oil & gas sales +27% YoY in otherwise mediocre quarter:

http://online.wsj.com/news/articles/SB10001424052702303626804579505381599450134

Revenue from GE's industrial businesses, which include jet engines, wind turbines and locomotives, rose 8.3% to $24.6 billion, helped by double-digit revenue gains in its oil-and-gas and power-and-water units. Revenue at its oil-and-gas unit jumped 27% to $4.31 billion…

… Meanwhile, revenue from GE Capital fell 8.3% to $10.52 billion, as the company has worked to reduce the size of the segment. Its real-estate unit saw the sharpest decline in revenue, down 62% to $631 million from a year ago.

…[overall], the company reported a 15% drop in first-quarter profit to $3 billion and a 2% decline in revenue to $34.2 billion…

This movie has been seen before, e.g. #msg-90138859.