22-04-2016 17:07 via news.yahoo.com

GE underlying revenue falls, but company sticks to target

By Alwyn Scott NEW YORK (Reuters) - General Electric Co reported lower first-quarter underlying revenue, citing weak sales of oil and gas drilling equipment, but it forecast a second-half upturn for power generation products that should help it meet its full-year target. Shares of the industrial conglomerate were down 1.5 percent after it said organic revenue, a closely watched figure that excludes foreign exchange and discontinued operations, fell 1 percent. Some analysts had said the top end o
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