General Electric said today its quarterly profit from continuing operations more than tripled, helped by strength in its aviation and healthcare businesses.
GE said that earnings from continuing operations rose to $369m in the first quarter ended March 31, from $122m a year earlier.
Earnings per share from continuing operations rose to four cents from a cent, and revenue rose 6.6% to $28.7 billion, the company said.
On an adjusted basis, GE earned 16 cents per share, up from a restated 14 cents a share a year earlier. Analysts on average had expected an adjusted 11 cents a share, according to Thomson Reuters.
GE recently restated 2017 results to reflect changes in accounting standards for recognising revenue.
Analysts had forecast GE's profit to decline in the first quarter and some thought today's results might fail to meet even those diminished expectations.
But the company's aviation, transportation and healthcare businesses produced double-digit profit growth in the quarter, boosting overall results.
Profit at GE's power business fell 38% on a 9% decline in sales as orders dropped 29%.
"The industry continues to be challenging and is trending softer than our forecast," GE said of the power business.
Profit in GE's oil and gas unit fell 30%, excluding restructuring and other charges, the company also said today.