Business & Tech

GE first quarter results beat Wall Street’s view

GE CEO Jeff Immelt.
Steven Senne/Asssociated Press/File
GE CEO Jeff Immelt.

BOSTON - General Electric Co. topped analyst expectations in the first quarter and reaffirmed its forecast for 2017.

The conglomerate earned $619 million in the quarter after preferred dividends, as total consolidated revenue fell about 1 percent to $27.66 billion.

Boston-based General Electric has sold a number of businesses since 2004 as part of a focus shift toward producing large, complex equipment. It unloaded its insurance, credit card, plastics and security divisions. It said Friday that it has closed a $1.65 billion acquisition of LM Wind Power, a Denmark-based manufacturer of rotor blades for wind turbines.

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It also said a planned combination of oil and gas operations with Baker Hughes Inc. remains on track and should close in the middle of the year.

Shares of GE edged up 13 cents to $30.40 in premarket trading Friday, after results were released.