GE Earnings: No Cause for Disappointment
General Electric (NYSE: GE) stock slumped after the company released its first-quarter earnings report on Tuesday. GE's double-digit revenue decline, meager profit, and quarterly cash burn provided plenty of ammunition for skeptics to criticize the company.
Nevertheless, the industrial giant continued to make progress on its key strategic initiatives last quarter. Moreover, GE remains on track for a robust recovery beginning later this year -- and that's what really matters for long-term investors.
In the first quarter of 2021, GE's total revenue slumped 12% to $17.1 billion. On an organic basis, revenue for its industrial businesses fell 10% to $16 billion, driven entirely by a 27% organic revenue decline in the company's aviation business.
Source Fool.com
