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General Electric revenue falls 12%
[BENGALURU] General Electric Co reported a 12 per cent drop in quarterly revenue as weakness in its energy connections business offset strength in renewables and power units.
Earnings from continuing operations attributable to GE shareholders fell to US$1.34 billion in the second quarter ended June 30 from US$3.30 billion a year earlier.
Earnings per share from continuing operations fell to 15 US cents from 36 US cents, the company said.
GE's energy connections business provides electrification and automation products to the oil and gas, mining, utility and marine industries.
Total revenue fell to US$29.56 billion from US$33.49 billion.