GE profit tops estimates, shares rise in ‘relief rally’

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www.reuters.com/article/us-ge-results/ge-profit-tops-estimates-shares-rise-in-relief-rally-idUSKBN1HR1H1

General Electric Co (GE.N) posted quarterly results that topped expectations on Friday, as earnings from aviation, healthcare and transportation offset weak power and oil-and-gas profits, sending shares sharply higher in premarket trading.

…company’s aviation, transportation and healthcare businesses produced double-digit profit growth in the quarter, boosting overall results.

Profit at GE’s power business fell 38 percent on a 9 percent decline in sales; orders dropped 29 percent.

www.bloomberg.com/news/articles/2018-04-20/ge-stands-by-profit-forecast-brushing-off-wall-street-s-worries

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Follow Warrens advice, never buy turnarounds, uncertainty way to high.

 

AC

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