Loading
22-Jul-2013 10:51 AM

GE profits decline in 2Q2013, mixed in 1H2013

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.

Want More News Like This?

CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More