The General Electric Q2 2017 earnings and Moody’s Q2 2017 earnings reports were released before opening bell this morning. GE posted adjusted earnings of 28 cents per share on $29.56 billion in revenue, compared to the consensus estimates of 25 cent per share on $29.14 billion in revenue. In last year’s second quarter. The company reported 30 cents per share in earnings on $33.49 billion in revenue.
Moody’s reported adjusted earnings of $1.51 per share on $1 billion in revenue, compared to the consensus estimates of $1.34 per share and $959.2 million in revenue. In last year’s second quarter, the firm reported $928.9 million in revenue and $1.30 per share in earnings.
General Electric Q2 2017 earnings
By General Electric Company (w:File:General_Electric_logo.svg) [Public domain], via Wikimedia Commons
General Electric Q2 2017 earnings amounted to 13 cents per share on a net basis, marking a 57% year over year decline. Earnings from continuing operations amounted to 15 cents per share, a 58% decline from last year’s second-quarter result. Industrial segment organic revenues grew 2% year over year as orders increased 6%. The industrial margin was 8.5%, a decline of 760 basis points from last year.
GE management expects its cash flow to keep improving throughout the year. They have cut $670 million from their industrial structural costs this year so far, and they’re on track to meet or surpass their target of $1 billion in cost reductions for this year.
After the General Electric Q2 2017 earnings report, the company’s stock ticked lower in premarket trades, falling by as much as 0.9% to $26.45.
Moody’s Q2 2017 earnings
By Moody’s Corporation (Moody’s Corporation) [Public domain], via Wikimedia Commons
Moody’s Q2 2017 earnings amounted to $1.61 per share on a GAAP basis, compared to $1.30 per share in the year-ago quarter. Moody’s Investors Service revenue grew 10% year over year to $686.7 million, while Moody’s Analytics revenue increased 3.5% to $313.8 million.
