Boston, MA 04/21/2014 (wallstreetpr) – General Electric Company (NYSE:GE) has shown great earnings in the first quarter of this year. General Electric has had an amazing start, and if this continues, then the company will have something to celebrate for. General Electric has taken the road forward, and there’s more to come. It remains to be seen whether GE succeeds in its quest for progress or comes to a halt.
Rise In Industrial Profits
Reportedly, General Electric Company (NYSE:GE) has revealed a rise in its total industrial profits this year by a huge margin of 12%. The major returns have come from the sales of jet engines, gas turbines and others from selling oil industry equipment. The sales of these items were enough to overcome the losses suffered in the transportation and healthcare industries. The healthcare unit of GE showed a drop in the revenue by 2% while the other unit, transportation that manufactures locomotive ran into losses.
Though General Electric Company (NYSE:GE) earned profits and did well, Jeff Immelt’s, the Chief Executive Officer of General Electric, strategy of keeping the focus on the manufacturing of large industrial products does not seem to have worked out. He came up with this strategy in the first place to reduce the GE’s dependence on its unit of Capital Finance. The target is to reduce the Capital Unit’s contribution in the total company profits by at least 30% by the end of the year 2016.
The General Electronic is also all set to step its foot into acquisitions this year ranging from $1 to $4 billion.
GE Donated Light To Fisherman’s Wharf
General Electric Company (NYSE:GE) donated it LED sign lighting systems to Fisherman Wharf, which is a historic fishing district in San Francisco. GE donated its Tetra® PowerStrip LED sign lighting, which will reduce the energy consumption at Fisherman’s Wharf by a huge 80%. The maintenance costs will also reduce because of this.
