GE Q1 profit helped along by by GE Aviation
25 Apr 2011
General Electric Co's Q1 net income was up 77 per cent to $3.43 billion from $1.95 billion a year earlier. Revenue for the quarter rose to $38.45 billion from $36.2 billion.
At the company's Evendale-based GE Aviation unit, operating earnings were up 5 per cent to $841 million from $799 million a year ago.
GE Aviation revenue also grew 5 per cent to $4.4 billion, from $4.2 billion in the first quarter of last year.
In a news release, chairman and CEO Jeff Immelt attributed GE's quarterly growth to the company's health care, transportation and aviation segments.
He also noted that GE Capital had a strong quarter, with profit increasing to $1.84 billion from $583 million.
Fairfield, Conn.-based GE is a diversified manufacturing, media and financial company.
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