July 20, 2018 / 10:46 AM / 2 months ago

GE quarterly profit drops 28 percent

(Reuters) - U.S. industrial conglomerate General Electric Co reported a 28 percent drop in quarterly profit on Friday, as weakness in its power business offset gains in aviation and healthcare businesses.

FILE PHOTO: The General Electric logo is pictured on working helmets during a visit at the General Electric offshore wind turbine plant in Montoir-de-Bretagne, near Saint-Nazaire, western France, November 21, 2016. REUTERS/Stephane Mahe/File Photo

Earnings from continuing operations attributable to GE shareholders fell to $736 million in the second quarter ended June 30, from $1.03 billion a year earlier.

Earnings per share from continuing operations fell to 8 cents from 12 cents, the company said. On an adjusted basis, GE earned 19 cents per share.

Total revenue rose to $30.1 billion from $29.1 billion.

Reporting by Rachit Vats in Bengaluru; Editing by Saumyadeb Chakrabarty

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