GE Reports Mixed Quarterly Results Tied to Sale of Capital Assets

General Electric (GE) reported mixed first-quarter results on Friday with earnings that topped analyst estimates by a penny, but revenue that fell short of expectations. GE's results were weighed down by about $16 billion in charges related to the sale of its GE Capital assets, which the company announced last week. Quarterly profit in the industrial business, which GE will be focusing on after the sale, rose 9%, helped by cost cuts. Revenue in its industrial units fell 1%, negatively impacted by $950 million tied to the stronger dollar. Excluding the impact from currency and deals, sales in GE's industrial segments rose 3%. Chairman and CEO Jeff Immelt said the company performed well in the quarter, 'in an environment that remains volatile but with continued growth opportunities in infrastructure.'