GE

General Electric Co Q1 Profit Decreases, but beats estimates

(RTTNews) - General Electric Co (GE) announced earnings for first quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $1.5 billion, or $1.38 per share. This compares with $6.1 billion, or $5.56 per share, in last year's first quarter.

Excluding items, General Electric Co reported adjusted earnings of $0.9 billion or $0.82 per share for the period.

Analysts on average had expected the company to earn $0.65 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 11.0% to $16.1 billion from $14.5 billion last year.

General Electric Co earnings at a glance (GAAP) :

-Earnings (Q1): $1.5 Bln. vs. $6.1 Bln. last year. -EPS (Q1): $1.38 vs. $5.56 last year. -Revenue (Q1): $16.1 Bln vs. $14.5 Bln last year.

-Guidance: Full year EPS guidance: $3.80 to $4.05

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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