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GE profits decline in 2Q2013, mixed in 1H2013

22-Jul-2013 10:51 AM

General Electric Company revenue down 4% - financial highlights:

  • Three months ended 30-Jun-2013:
    • Total revenues and other income: USD35,123 million, -4% year-on-year;
    • Segment profit: USD5761 million, -2%;
      • Aviation: USD1067 million, +16%;
      • GE Capital: USD1922 million, -9%;
        • GECAS: USD304 million, -1%;
    • Profit from continuing operations before tax: USD3421 million, -7%;
    • GE: USD3404 million, -7%;
    • Net profit: USD3133 million, +1%;
  • Six months ended 30-Jun-2013:
    • Total revenues and other income: USD70,133 million, -2%;
      • Aviation: USD10,377 million, +6%;
      • GE Capital: USD22,515 million, -1%;
        • GECAS: USD2661 million, stable;
    • Segment profit: USD10,624 million, -3%;
      • Aviation: USD2003 million, +12%;
      • GE Capital: USD3849 million, -1%;
        • GECAS: USD652 million, +4%;
    • Profit from continuing operations before tax:  USD7041 million, +1%;
      • GE: USD7013 million, +1%;
    • Net profit: USD6660 million, +8%;
    • Total assets: USD660,500 million;
    • Cash and marketable securities: USD132,500 million. [more - original PR]

GE: “This quarter we delivered Industrial segment profit growth. We continue to execute on operational priorities within our control: achieving our cost-out goals, maintaining a very strong cash position, reducing the size of GE Capital, and returning substantial cash to shareholders. Our overall framework for the year is unchanged,” Jeff Immelt, Chairman and CEO. Source: Company statement, 19-Jul-2013.