Power, Aviation Boost GE Despite Weak Oil

Power, aviation boost GE despite weak oil

NEW YORK, (Pakistan Point News - 22nd july,2016) - Strong results in power and aviation boosted General Electric's second-quarter results, despite an economy characterized by volatility and slow growth, the company said Friday. Net income was $2.7 billion, compared with a loss of $1.4 billion in the year-ago period. Revenues rose 14.6 percent to $33.5 billion. Performance among GE's industrial divisions varied, with oil and gas experiencing big declines in revenues and operating profit due to the rout in oil prices.