Before the US stock market opened on Tuesday, April 26, General Electric Co (GE.US) reported first-quarter results for 2022, Zhitong Financial APP learned. According to the financial report, General Electric Co's Q1 revenue was 17.04 billion US dollars, unchanged from the same period last year and less than the market expectation of 17.462 billion US dollars. General Electric Co's total orders for the quarter were $18.9 billion, up 11% from a year earlier. General Electric fell 5.43% to $85 after the results were announced.

By business, General Electric Co's aviation business revenue was $5.6 billion, up 12% from the same period last year; revenue from the health business was $4.363 billion, up 1% from the same period last year; revenue from the renewable energy business was $2.871 billion, down 12% from the same period last year; and revenue from the energy business was $3.5 billion, down 11%.

General Electric Co posted a loss of 99 cents per share in the first quarter, compared with a loss of $2.61 per share in the same period last year, compared with a loss of 74 cents per share from sustainable operations and earnings per share of $0.02 in the same period last year.

General Electric Co's adjusted NON-GAAP profit was $946 million, up 19% from a year earlier; adjusted diluted earnings per share was 24%, up 84% from a year earlier; it exceeded market expectations of $0.20.

General Electric Co's board approved common stock buybacks of up to $3 billion.

Performance guidance

General Electric Co expects full-year adjusted earnings per share to be at the low end of $2.80 to $3.50, while the market is expected to be $3.24.