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Industry News
27th July 2016

Financial Roundup: Power, aviation boost GE despite weak oil

Strong results in power and aviation boosted General Electric’s second-quarter results, despite an economy characterized by volatility and slow growth, the company said Friday. Net income was $2.7 billion, compared with a loss of $1.4 billion in the year-ago period. Revenues rose 14.6% to $33.5 billion. Performance among GE’s industrial divisions varied, with oil and gas experiencing big declines in revenues and operating profit due to the rout in oil prices.

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