LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Business News » World News

GE quarterly revenue drops 12 percent; cash flow up on quarter

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
Updated: Fri, Jul 21, 2017
05:09 pm
Reuters

General Electric Co reported a 12 percent drop in revenue for the second quarter, as weakness in its energy connections business offset strength in renewables and power units.

Net profit slumped 58 percent to $1.34 billion, or 15 cents a share, in the quarter ended June 30, from $3.30 billion, or 36 cents a share, a year earlier.

GE`s energy connections business provides electrification and automation products to the oil and gas, mining, utility and marine industries.

Revenue fell to $29.56 billion from $33.49 billion, slightly better than the $29.02 billion consensus estimate of analysts polled by Thomson Reuters I/B/E/S.

Adjusted earnings fell 45 percent to 28 cents a share, compared with estimates for 25 cents.

GE`s closely watched cash flow from operations fell 67 percent to $3.6 billion from a year ago, reflecting the loss of contributions from the appliances division that the company sold.

But the figure was up from $400 million in the first quarter, and GE said it expects cash flow to increase during the remainder of the year.

The company affirmed its full-year forecast for cash flow, profit, revenue and operating margin.

Shares were up nearly 1 percent in premarket trading at $26.95.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:

LATEST NEWS

'Very dense' fog lowers visibility to zero meters in Delhi; over 130 flights delayed at Delhi Airport

HDFC Bank Q3 net rises 14.36 per cent to Rs 8,760 crore

Samsung preparing to bring S Pen support to foldables

INSANE 'Master' Box office collection! Vijay’s film opens with thunderous response in UAE; beats Wonder Woman 1984, Tenet

Getting Driving licence made easy! Here is how you can apply for licence in Delhi, UP, MP, Bihar and other states

IntelliSmart inks pact with Infosys to develop digital platform for discoms

WhatsApp delays new privacy policy by three months amid severe criticism

Consumers spent $57 bn on video games in US in 2020, 27 per cent increase from 2019

Mi 10i sets new benchmark in mid-price phone segment

Earthquake today: 42 dead, 15,000 displaced in massive Indonesia quake

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved