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:
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- Total revenues and other income: USD35,123 million, -4% year-on-year;
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- Aviation: USD5303 million, +9%;
- GE Capital: USD10,980 million, -3%;
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- GE Capital Aviation Services (GECAS): USD1282 million, -3%;
- Segment profit: USD5761 million, -2%;
- Profit from continuing operations before tax: USD3421 million, -7%;
- GE: USD3404 million, -7%;
- Net profit: USD3133 million, +1%;
- Six months ended 30-Jun-2013:
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- Total revenues and other income: USD70,133 million, -2%;
- Segment profit: USD10,624 million, -3%;
- Profit from continuing operations before tax: USD7041 million, +1%;
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- 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.