GE Sales Soften as Industrial Shift Hits Global Headwinds
- CEO Immelt points to `challenging oil and gas market'
- Earnings exceed analysts' estimates as GE Capital sales rise
Inside GE's Earnings Numbers
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General Electric Co. reported sales declines in oil and transportation as its transformation around industrial manufacturing ran into a sluggish global economy.
First-quarter organic revenue fell 1 percent in the industrial businesses as orders decreased 7 percent on the same basis, GE said Friday in a statement. Organic operating profit, excluding the effects of acquisitions, was flat at $2.9 billion in the manufacturing units.