April 13, 2018 / 9:22 PM / a year ago

GE takes $4.2 bln charge, restates earnings

NEW YORK, April 13 (Reuters) - General Electric Co said on Friday it will take a charge of $4.24 billion in the first quarter and reduce earnings over the last two years by 30 cents a share, figures in line with expectations the company set earlier this year when it said it would comply with new accounting standards.

The maker of power plants, jet engines, medical devices and other industrial goods had estimated the after-tax, non-cash impact would be about $4.2 billion, plus reduced earnings for 2016 and 2017 of about 29 cents a share. The changes do not affect GE’s cash flow or its earnings estimate for 2018, analysts said. (Reporting by Alwyn Scott Editing by Bill Rigby)

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