The Real Numbers Behind GE’s “Beat”: Organic Orders -16%; Power -27%; Equipment Orders -30%; Aviation -37%
by Tyler Durden
ZeroHedge.com
Jul 22, 2016
On the surface, this morning’s GE non-GAAP results (defined as follows: “Non-GAAP results excluding acquired Alstom businesses, non-operating pension costs, gains and restructuring & other charges”) were spun as very bullish, with extensively adjusted revenues of $33.5 billion rising 15% and beating expectations of $31.4 billion, while non-GAAP EPS surged 65% to $0.51, well above the $0.46 expected.
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