GE to restate two years of earnings
New York
GENERAL Electric will restate its earnings for 2016 and 2017 as it adopts a new accounting standard, according to a regulatory filing last Friday.
The updated accounting standard, which will take into account revenue from long-term contracts, will result in a 13-cent cut in reported earnings per share for 2016 and a cut of 16 US cents per share for 2017, according to the company's 10-K filing.
