AI
General Electric Co's (GE.N) quarterly industrial earnings rose 9 percent, helped by cost cuts that expanded profit margins, as the U.S. conglomerate banks on manufacturing of jet engines, turbines and other big-ticket products as it unloads most of its finance business.
Revenue fell 1 percent in its industrial segments, hurt by a $950 million hit from the stronger dollar, GE said on Friday. Stripping out the currency drag and the impact from deals, sales rose 3 percent.
The stronger dollar is expected to weigh on U.S. industrial companies, whose revenues are hurt when foreign sales are translated back into the U.S. currency.
Overall, GE posted a first-quarter net loss of $13.6 billion, or $1.35 per share. Results were weighed down by about $16 billion in charges tied to its exit of GE Capital assets. The company disclosed last week it was shedding much of its finance business.
http://www.reuters.com/article/2015/04/17/us-general-electric-results-idUSKBN0N810A20150417
Revenue fell 1 percent in its industrial segments, hurt by a $950 million hit from the stronger dollar, GE said on Friday. Stripping out the currency drag and the impact from deals, sales rose 3 percent.
The stronger dollar is expected to weigh on U.S. industrial companies, whose revenues are hurt when foreign sales are translated back into the U.S. currency.
Overall, GE posted a first-quarter net loss of $13.6 billion, or $1.35 per share. Results were weighed down by about $16 billion in charges tied to its exit of GE Capital assets. The company disclosed last week it was shedding much of its finance business.
http://www.reuters.com/article/2015/04/17/us-general-electric-results-idUSKBN0N810A20150417
My post is for my entertainment, do your own DD before pushing your
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