Lighting revenue was only 1.43%, GE announced the second quarter results

GE, the US manufacturing giant, disclosed the second and the first half of the 2018 fiscal year. According to the GAAP, GE achieved $58 billion 764 million in revenue in the first half of this year, up 5% from a year earlier, with revenue of $30 billion 104 million in the second quarter, up 3% from the same year.

In terms of revenue composition, 2Q18, electricity, renewable energy, oil and gas, aviation, health care, transportation, lighting and other businesses contributed 7 billion 579 million dollars, $1 billion 653 million, $5 billion 554 million, $7 billion 519 million, $4 billion 978 million, $942 million, and 431 million dollars, respectively, and 14 billion 801 million in the first half of 2018. Dollars, $3 billion 299 million, $10 billion 939 million, $14 billion 631 million, $9 billion 680 million, $1 billion 814 million, and $887 million.

Compared with the same period of the previous year, the performance of oil, gas, air, medical and health care in the second quarter and the first half of the first half of the year achieved growth, and the rest of the business have declined in varying degrees. General electric CEO John Flannery (John Flannery) said, "the second quarter results meet expectations, multiple segments of the market to achieve sustained growth, especially in the field of aviation and health care. In the first half of 2018, the cost of the company's industrial structure was reduced by $1 billion 100 million, and more than half of the cost reduction target of $2 billion in 2018 was completed. In addition, the adjusted industrial free cash flow was improved over the same period last year, and the cash flow of the company is expected to exceed $15 billion at the end of 2018. "

Flannery added: "we are making plans to build a more powerful and simpler Ge Corp. For example, close industrial solutions and value based nursing services; divide GE Medical Group into an independent company within 12-18 months; separate BHGE (GE's Baker Hughes) in an orderly way within 2 to 3 years; combine the GE transport department with Wabtec; put the distributed power sector at a price of $3 billion 250 million. Sell to private Holdings Company Advent International and so on. "

In addition to the above-mentioned reorganization, GE will also withdraw from the lighting business. General Electric chief financial officer (CFO) Jamie Miller announced "the sale of lighting business in the year of the year" at the July 20th 2018 4-6 month financial conference call conference. The company's lighting business has previously withdrawn from Europe, the Middle East and Africa, and will soon sign sales contracts for the US lighting business.

In fact, lighting business is now the smallest business of GE, and its performance is in a downward trend. According to the 2Q18 financial report, lighting revenue was down 9% to 431 million US dollars over the same period of last year, accounting for only 1.43% of the second quarter revenue of the GE.

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