Top Stories
Top Stories
Wires

UPDATE 1-GE profit triples in quarter, warns on 737 MAX

(Adds details on earnings, share move)

April 30 (Reuters) - General Electric Co said on Tuesday first-quarter profit more than tripled, helped by higher sales in its aviation, oil and gas, and healthcare units.

Its shares rose more than 6 percent in pre-market trading.

GE also stuck to its full-year forecast for earnings, but said that problems with Boeing Co's 737 MAX jet presents a "new risk" for GE, which makes engines for the plane with partner Safran SA of France. Boeing's newest jetliner was grounded worldwide last month after a second fatal accident in less than five months.

GE also reported $1.2 billion in negative cash flow from its industrial business, much better than the $2.16 billion outflow that Wall Street analysts, on average, were expecting.

Earnings from continuing operations attributable to GE shareholders rose to $954 million in the first quarter ended March 31 from $261 million a year earlier.

Earnings per share from continuing operations rose to 11 cents from 3 cents, the company said.

On an adjusted basis, GE earned 14 cents per share. Analysts had expected 9 cents per share, on average.

Total revenue fell 2 percent to $27.29 billion. (Reporting by Rachit Vats in Bengaluru and Alwyn Scott in New York; Editing by Anil D'Silva and Bill Rigby)