GE reports smaller loss as business recovers from pandemic lows

REUTERS: General Electric Co reported a smaller quarterly loss and a retuepositive cash flow on Wednesday, as the company cut costs in its aviation unit and saw improvement in revenue in its power business.

Cash flow for its industrial operations was US$514 million in the third quarter, compared with the average analyst estimate of an outflow of US$876 million.GE said it expects industrial free cash flow to be at least US$2.5 billion in the fourth quarter and positive in 2021.Revenue at GE's aviation unit fell 39per cent in the quarter compared with last year, while in the power business it rose 3per cent.

The loss from continuing operations attributable to GE shareholders shrank to US$1.2 billion in the third quarter ended Sept. 30 from US$9.5 billion a year earlier.

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