- General Electric's quarterly profit slumped 28% amid weakness in its power and renewable businesses.
- The conglomerate earned an adjusted $0.19 a share on revenue of $30.1 billion — both ahead of estimates.
- GE affirmed its full-year adjusted earnings-per-share.
(Reuters) - U.S. industrial conglomerate General Electric Co reported a 28 percent drop in quarterly profit on Friday, as weakness in its power and renewables businesses offset gains in its aviation, oil and gas and healthcare units.
Earnings from continuing operations attributable to GE shareholders fell to $736 million, or 8 cents a share, in the second quarter ended June 30, from $1.03 billion, or 12 cents a share, a year earlier. Total revenue rose to $30.1 billion from $29.1 billion.
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