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26 May, 2017 01:35 IST
General Electric Co first-quarter profit jumps 186.40 percent on a YOY basis
Source: IRIS | 21 Apr, 2017, 07.24PM

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General Electric Company (GE) has reported an 186.40 percent jump in profit for the quarter ended Mar. 31, 2017. The company has earned $653 million, or $0.07 a share in the quarter, compared with $228 million, or $0.01 a share for the same period last year.

Revenue during the quarter went down marginally by 0.66 percent to $27,660 million from $27,845 million in the previous year period. Gross margin for the quarter expanded 190 basis points over the previous year period to 19.30 percent. Total expenses were 96.99 percent of quarterly revenues, down from 99.15 percent for the same period last year. This has led to an improvement of 215 basis points in operating margin to 3.01 percent.

Operating income for the quarter was $832 million, compared with $238 million in the previous year period.


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