General Electric cuts its quarterly loss

The US industrial company, General Electric, managed to reduce its net losses for the first three months of 2022, compared to the same period last year.

The company explained, in a statement, that the improvement in results was supported by the continued recovery in the aviation sector and strong demand in the health care field.

Adjusted earnings per share and quarterly revenue both beat analyst expectations. The company maintained its forecast for 2022 as a whole.

GE recorded a net loss that ordinary shareholders could incur for this quarter of $0.99 per share, which is lower than the loss in the same quarter last year, which was $2.61 per share.

“This quarter, the GE team has improved services, orders, and liquidity,” said Lawrence Kolb, Jr., the company’s chairman and CEO.

By Editor

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