GE reports big drop in quarterly profit on weakness in its power unit

U.S. industrial conglomerate General Electric reported a 28 percent drop in quarterly profit on Friday, as weakness in its power business offset gains in aviation and healthcare businesses.

For shareholders, the results did not hold any surprises.

Ticker	Security	Last	Change	Change %
GE	GE AEROSPACE	182.84	+2.23	+1.24%

Earnings from continuing operations attributable to GE shareholders fell to $736 million in the second quarter ended June 30, from $1.03 billion a year earlier.

Earnings per share from continuing operations fell to 8 cents from 12 cents, the company said. On an adjusted basis, GE earned 19 cents per share.

Total revenue rose to $30.1 billion from $29.1 billion.