General Electric (GE) Misses Q3 EPS by 6c, Cuts Quarterly Dividend to 1c, Takes $22B Non-cash Goodwill Charge
(Updated - October 30, 2018 6:34 AM EDT)
General Electric (NYSE: GE) reported Q3 EPS of $0.14, $0.06 worse than the analyst estimate of $0.20. Revenue for the quarter came in at $29.6 billion versus the consensus estimate of $29.92 billion.
- Reducing our quarterly dividend to $0.01 per share, beginning with the board’s next dividend declaration
- Recorded estimated $22B non-cash goodwill charge
- Plans to reorganize GE Power to further improve cost structure, enhance execution agility, and drive better outcomes for customers and investors
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