It looks like analysts set a sufficiently low hurdle for GE (GE) to jump over this quarter.
The industrial and financial conglomerate has reported Q1 earnings of $2.8 billion or EPS of $0.26. Analysts had been looking for $0.21. On the other hand, revenue of $38.4 billion was down by 9% and slightly behind analyst consensus over $39 billion.
At the GE Capital unit, revenue was off 23%, but the company is still booking a profit here of $1.1 billion, which is down 58% from last year.
The results, the company says, are all in line with its previous “deep dive” into GE Capital’s books.
Meanwhile, the industrial units, though obviously hurt by the economy, remain impressively steady year over year.
Energy infrastructure revenue was up 7%, while technology infrastructure (aviation, health, enterprise and transport) was about flat.
More to come.
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