The Traderszone Network

Published in TZ Latest News 17 April, 2015 by The TZ Newswire Staff

GE posts net loss on finance sale; industrial profit rises

Results were weighed down by about $16 billion in charges tied to its exit of GE Capital assets. The company disclosed last week it was shedding much of its finance business. Total sales fell 12.5 percent to $29.34 billion, as GE Capital revenue slid 39 percent. GE’s shares soared the most in six years last Friday on the company’s surprise announcement about GE Capital, pleasing investors who said the finance business weighed on GE’s value as an industrial company.