GE Capital Q1/15 Net Loss of $14.7B After ‘Exit Impacts’
APR 17, 2015 - 8:05 am
With regard to GE Capital, General Electric noted in its Q1/15 news release on earnings that the company’s portfolio strategy encompasses a plan to create a focused infrastructure & technology company. GE said the current environment provides an excellent opportunity for creating value from financial assets. In its Q1/15 highlights, the company noted operating income excluding GE Capital “exit impacts” was $1.5 billion.
General Electric reported GE Capital revenues and segment profit for Q1/15 from continuing operations was $5,982 million and a loss of $12,544 million, respectively compared to $9,885 million and segment profit of $1,693 million in Q1/14. GE noted an additional $2,201 million loss from discontinued operations. Overall, GE Capital segment results for Q1/15 was a net loss of $14,745 million compared to net earnings of $1,945 million for the same quarter in 2014.
Revenues and segment profit in Q1/15 reported for Commercial Lending and Leasing (CLL) was $1,556 million and a loss of $3,847 million, respectively compared to $3,582 million and $564 million for the same quarter in 2014.
GE Capital Aviation Services revenues and segment profit in Q1/15 was $1,282 million and $307 million, respectively compared to $1,345 million and $352 million one year earlier
General Electric noted that GE Capital’s Q1/15 ending net investment of $302.8 billion was down from $363.0 billion at year-end 2014 and $373.7 billion at the end of Q1/14.
GE Capital segment assets, at the end of Q1/15, were $476.5 billion, compared to $511.8 billion at the end of the same quarter a year earlier.
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