BOSTON (AP) _ General Electric Co. (GE) on Friday reported first-quarter net income of $653 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Boston-based company said it had profit of 7 cents. Earnings, adjusted for non-recurring costs and to account for discontinued operations, were 21 cents per share.
The results topped
The industrial conglomerate posted revenue of $27.66 billion in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $26.36 billion.
GE expects full-year earnings in the range of $1.60 to $1.70 per share.
GE shares have dropped 4 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 5 percent. The stock has decreased roughly 3 percent in the last 12 months.
Keywords: General Electric, Earnings Report, Priority Earnings
DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer