U.S. industrial conglomerate General Electric Co reported a smaller-than-expected drop in quarterly profit on Friday as weakness in power and renewables energy offset gains in its aviation, oil and gas and healthcare units.
GE cut its annual cash target to $6 billion from a range of $6 billion to $7 billion, but affirmed its full-year adjusted EPS target of $1.00 to $1.07 a share.
GE’s adjusted earnings, which exclude certain pension and restructuring costs, fell 10 percent to 19 cents a share, from a restated 21 cents a year ago.
