Shrinking remains GE’s best growth business. tombuerkle
General Electric on April 30 reported earnings attributable to shareholders of $3.5 billion or 40 cents a share in the first quarter, compared with a loss of $1.2 billion or 14 cents a share in the same period a year earlier. Adjusted for one-offs, earnings amounted to 14 cents a share, exceeding the mean analyst estimate of 9 cents. Revenue declined 2 percent to $27.3 billion, but exceeded the mean estimate of $27 billion.
In an analyst presentation, the company called the 737 MAX “a new risk.” The Boeing jetliner has been grounded worldwide since mid-March following the crash of an Ethiopian Airlines flight, the second fatal crash of a 737 MAX in five months.
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