General Electric said it increased profit and lost less cash than expected in the first quarter. Profit from continuing operations more than tripled as sales rose in GE’s aviation, oil and gas, and healthcare units. Negative cash flow from GE’s industrial business was $1.2 billion, much better than the $2.16-billion outflow that analysts were expecting.
On an adjusted basis, GE earned 14 cents per share. Analysts had expected 9 cents per share. Total revenue fell 2% to $27.29 billion, above analysts’ average estimate of $27.05 billion.