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Shares in General Electric are trading a little lower pre-market on Wednesday as uncertainty amidst the US elections impacts equities markets. General Electric reported its Q3 earnings last week and despite a weaker than expected performance, shares had been trading a little firmer over recent days.
GE reported third-quarter earnings per share of -$0.14, undershooting estimates for a -$0.4 EPS. Despite the miss in headline earnings, revenues beat estimates at $19.42 billion versus $18.73 billion expected.
Weak Performance Overall
Looking at the breakdown of the results, however, the performance was decidedly weak when compared with last year.
Revenues in the aviation segment of the business were down 39% year on year. Revenues in the health-care segment were 7% lower. Notably, orders were down for all segments from the 12% decline seen in the power segment up to the 54% decline in the aviation segment.
Commenting on the results, General Electric CEO Lawrence Culp said:
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