GE posts profit as financial unit recovers
The Connecticut-based giant, whose products range from aircraft engines to home appliances, said it would raise its shareholder dividend as profits rose 80 per cent.
"As today's results show, GE has emerged from the recession a stronger, more competitive company," GE CEO Jeff Immelt said in a statement.
"GE Healthcare, Transportation and Aviation delivered strong results," he said.
"GE Capital also had a strong first quarter, earning $1.8 billion after tax," Immelt added, noting a significant threshold crossed for the troubled financial unit.
"With losses having peaked, we are originating new business at attractive margins and our funding costs continue to be favorable."
What the stars mean:
★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional
Latest News
More News
- Hai Long Construction's successful 25-year journey (April 25, 2024 | 08:00)
- E-commerce platforms help to spread agricultural value (April 25, 2024 | 07:30)
- Standard Chartered revises down Vietnam's 2024 GDP growth forecast to 6 per cent (April 24, 2024 | 15:04)
- Vincom Retail retains brand name following Vingroup divestment (April 24, 2024 | 15:00)
- Veterinary drugmakers seek time and cost-saving policies (April 24, 2024 | 11:36)
- Crucial small business arena to receive reduced CIT boost (April 24, 2024 | 11:12)
- Gaw Capital bets on “China plus one” opportunities in Vietnam (April 24, 2024 | 09:00)
- Softening demand to limit 2024 trade (April 24, 2024 | 08:00)
- FPT partners with NVIDIA to shape the future of AI and Cloud on global scale (April 23, 2024 | 18:07)
- Beverage giant SABECO thirsty for $190 million profit this year (April 23, 2024 | 17:47)
Mobile Version