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Earnings Update: GE Swings To a Loss

GE

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Earnings Update: General Electric (NYSE: GE)

General Electric reported Q1 earnings per share of $0.31 excluding charges for GE Capital, which was a penny above the FactSet estimate for $0.30.

Overall for the quarter ended March 31, GE reported a loss of $13.57 billion, or $1.35 a share, compared with a profit of $3 billion, or 30 cents a share, a year earlier.

Revenues for the quarter were reported at $33.10 billion, which was well below the estimate of $34.23 billion.

Shares of GE last traded at $27.17, which is below from the last closing price of $27.28.

 


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About the Author

David Moenning is the Chief Investment Officer at Sowell Management Services. Dave began his investment career in 1980 and has been an independent money manager since 1987. Thus, Dave has been live on the firing line and investing for a living for more than 29 years.