Reuters, April 20 - General Electric (GE.N) announced on Friday that quarterly profits from continuing operations have more than tripled, aided by strong performance in the aviation and healthcare businesses.

Profit from continuing operations attributable to GE shareholders rose to US$369 million in the first quarter ended March 31, compared to US$122 million in the same period last year.

General Electric said its earnings per share from continuing operations rose to 0.04 US dollars, and revenue increased 6.6% to US$28.7 billion.

After adjustments, GE's quarterly earnings per share were $0.16, up from $0.14 after the revised earnings report for the same period last year. According to Thomson Reuters I/B/E/S, analysts' average expectations were an adjusted earnings of $0.11 per share.

General Electric recently readjusted its 2017 results to reflect changes in accounting standards for recognizing revenue.

Analysts had anticipated a decline in GE's profits in the first quarter, and some thought Friday's results might not even meet low expectations.

However, GE's profits from aviation, transportation, and healthcare businesses all recorded double-digit growth, boosting overall results.

General Electric's power business profits fell 38%, revenue fell 9%, and orders fell 29%.

“The industry continues to face challenges, and the trend is weaker than we expected,” GE said of its power business.

General Electric said that after deducting restructuring and other expenses, the profits of its oil and gas business division fell by 30%. (end)