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General Electric quarterly profit drops 28 percent

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Reuters

(Reuters) - U.S. industrial conglomerate General Electric Co reported a 28 percent drop in quarterly profit on Friday, as weakness in its power business offset gains in aviation and healthcare businesses.

Earnings from continuing operations attributable to GE shareholders fell to $736 million in the second quarter ended June 30, from $1.03 billion a year earlier. [https://invent.ge/2La89Cy]

Earnings per share from continuing operations fell to 8 cents from 12 cents, the company said. On an adjusted basis, GE earned 19 cents per share.

Total revenue rose to $30.1 billion from $29.1 billion.

(Reporting by Rachit Vats in Bengaluru; Editing by Saumyadeb Chakrabarty)

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First Published: Jul 20 2018 | 4:22 PM IST

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