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GE posts another loss, raises cash flow forecast

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GE posts another loss, raises cash flow forecast
FILE PHOTO: The logo of U.S. conglomerate General Electric is seen on the company building in Belfort, France, October 19, 2019. REUTERS/Vincent Kessler   -   Copyright  VINCENT KESSLER(Reuters)
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(Reuters) – General Electric Co <GE.N> on Wednesday posted a $1.3 billion (£1.01 billion) loss in the third quarter as it continued its efforts to reboot several of its businesses after taking a $22 billion charge a year ago.

The company also raised its full-year industrial free cash flow forecast to between flat and $2 billion, compared with its earlier forecast of negative $1 billion to positive $1 billion.

The company’s loss from continuing operations attributable to shareholders was $1.33 billion in the quarter ended Sept. 30, compared with a loss of $22.96 billion a year earlier.

Loss per share from continuing operations was 15 cents from a loss of $2.64, the company said. (https://invent.ge/31YukPJ)

On an adjusted basis, GE earned 15 cents per share.

Total revenue fell to $23.36 billion from $23.39 billion.

(Reporting by Sanjana Shivdas in Bengaluru; Editing by Anil D’Silva)

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