General Electric swings to profits in Q1

General Electric swings to profits in Q1
(Photo Credit: Arabianeye-Reuters)

Mubasher: General Electric turned profitable in the first quarter ended 31 March 2017, according to a statement.

The company generated net profits of $619 million in the three-month period of 2017, against losses of $61 million in the same period of 2016.

Earnings per share (EPS) reached 7 cents in Q1-17, against loss per share of 1 cent in Q1-16.

On an adjusted basis, earnings were 21 cents a share, higher than expectations of 17 cents.

Revenues stood at $27.7 billion in Q1-17, compared to $27.8 billion in Q1-16.

Source: Mubasher