GE reports strong Q1 earnings
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General Electric Co. (GE) Thursday reported strong operating earnings of 3.6 billion U.S. dollars for the first quarter, up 58 percent year on year.
Total revenues in the quarter amounted to 38.4 billion dollars, up 6 percent from the same period of last year, with GE Capital Services' revenues reaching 13.2 billion dollars while industrial sales decreasing to 22.1 billion dollars, the company said in a financial report.
Cash generated from GE industrial operating activities in first quarter totaled 1.7 billion dollars, down 34 percent year on year.
"As today's results show, GE has emerged from the recession a stronger, more competitive company," said GE Chairman and CEO Jeff Immelt.
Moreover, GE raised its quarterly dividend by one cent to 15 cents effective for the third quarter of 2011, the third dividend increase declared in the past 12 months that reflects GE leadership's confidence in the company's business performance.
