GE beats diminished profit expectations, trims cash flow target
Updated : July 20, 2018 06:05 PM IST
GE cut its annual cash target to $6 billion from a range of $6 billion to $7 billion, but affirmed its full-year adjusted EPS target of $1.00 to $1.07 a share.
A decade and a half ago, GE was the world’s most valuable public company. But the 126-year-old company foundered in several industrial markets in recent years, and its move into financial services steered it into the eye of the global financial storm in 2008.
GE was removed from the Dow Jones Industrial Average in June, ending more than a century on the blue-chip index.
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