Categories AlphaGraphs, Earnings, Industrials
A visual representation of General Electric (GE) Q1 2020 earnings results
General Electric Company (NYSE: GE) reported its financial results for the quarter ended March 31, 2020 today.
![](https://cdn.news.alphastreet.com/wp-content/uploads/2020/04/General-Electric-Earnings-Trend-1024x621.jpg)
GE posted a 73% jump in earnings for the first quarter of 2020 driven by a gain from the sale of BioPharma and an unrealized loss on marking GE’s investment in Baker Hughes to market. The top-line declined by 8% due to the uncertainty associated with the rapid spread of COVID-19 pandemic.
![General Electric (GE) Q1 2020 earnings review](https://cdn.news.alphastreet.com/wp-content/uploads/2020/04/General-Electric-Q1-2020-Earnings-Infographic.jpg)
GE said the impact from COVID-19 materially challenged its first-quarter results, especially in Aviation, where a dramatic decline in commercial aerospace is seen as the virus spread globally in March. The company expects over $2 billion in operational cost out and $3 billion of cash preservation to mitigate the financial impact. The company has earlier withdrawn its financial guidance for the full-year 2020.
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