General Electric Excels in Q1 2024 with Surging Profits and Revenues
Tuesday, 23 April 2024, 10:44
GE Earnings: General Electric Q1 2024 profit jumps on higher revenues
Key Highlights:
- The General Electric Company (NYSE: GE) reported a sharp increase in adjusted earnings for the first quarter of 2024.
- Adjusted earnings reached $0.82 per share, up significantly from the prior year.
- Net profit from continuing operations declined to $1.38 per share from $5.56 per share in Q1 2023.
- Total revenues grew by 11% year-over-year to $16.1 billion.
- GE Aerospace showcased strong profit and cash growth during the quarter.
General Electric reported impressive financial results in Q1 2024, with profits soaring and revenues surging. CEO Lawrence Culp reflected on the successful spin-off of GE Vernova and the launch of GE Aerospace, underscoring the company's transformative journey and robust performance in the aerospace segment. The substantial growth in adjusted earnings and revenue expansion demonstrate GE's resilience and strategic advancements.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.