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General Electric earnings 21 cents per share

Staff writer |
General Electric (GE) reported a rise in quarterly profit and fall of 1 percent organic revenue.

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General Electric affirmed its forecast of 2 percent to 4 percent growth in annual organic revenue, excluding foreign exchange and discontinued operations.

"The oil and gas environment is challenging," Chief Executive Jeff Immelt said. But GE was "able to offset this with better performance across the portfolio."

GE said power generation equipment shipments were low in the first quarter but that a pickup in the second half of the year would help it hit the revenue target.

General Electric reported earnings of 21 cents per share, excluding finance businesses it is winding down, on revenue of $27.6 billion.

Not excluding those costs, the Fairfield, Connecticut-based company said it had a loss of 1 cent per share.

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