General Electric said today that first-quarter cash flow from its industrial operations turned negative and was less than the company expected.
However its quarterly earnings and revenue exceeded analyst estimates.
GE reported a negative $1.6 billion in cash flow from industrial operating activities compared with a negative $600m it expected for the quarter due to higher working capital and the timing of bills to customers.
Still, GE said it expects to hit its cash target of $12 billion to $14 billion for the full year.
Investors have been watching cash flow as an indicator of GE's operating performance.
Revenue fell 1% to $27.66 billion at the maker of jet engines, power plants and other industrial equipment, due to lower sales in its oil-and-gas and lighting businesses.
The figure beat analysts' estimates of $26.26 billion, according to Thomson Reuters.
Earnings from continuing operations attributable to GE shareholders rose to $858m in the quarter ended March 31, from $248m a year earlier.
Earnings per share from continuing operations rose to 10 cents from three cents.
Adjusted earnings of 21 cents a share were unchanged from a year ago and beat analyst estimates of 17 cents, according to Thomson Reuters.
