(MENAFN) General Electric Co posted that its profit has declined by about 60% the April-June period.
The power plants, jet engines, medical scanners as well as other industrial equipment producer announced its profit and sales has decreased sharply reflected sale of its appliances sectors.
On the other hand, the U.S. Company stated it estimates full-year profit and cash flow to hit at the low end of its forecasts.
"Until this earnings reset plays out, the stock will essentially remain in a state of limbo," according to Deane Dray, an analyst at RBC Capital Markets.
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