By Sanjana Shivdas and Alwyn Scott
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "(Reuters) – General Electric Co
But on an adjusted basis, the Boston-based conglomerate generated more profits than expected, beating analysts' estimates, and pledging to deliver $ 1 billion more cash this year than previously expected. [19659004Theresultssignaled"progresstransformationofGEGE"then-managingdirectorLarryCulp
The company said it now expects industrial free cash flow for the full year to be between $ 0 and $ 2 billion, compared to the previous forecast of GE $ 1 billion to positive $ 1 billion.
GE shares increased by 5.8 percent to $ 9.60 in premarket trading.
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "GE said it took an $ 8.7- billion charge for reducing its stake in Baker Hughes Co
GE incurred a $ 1 billion expense for its long-term care insurance business to account for the effect of falling interest rates on its liabilities. The charge was about what analysts expected.
GE also amortized $ 740 million in goodwill for its hydropower operations. In total, insurance and goodwill costs amounted to 17 cents EPS, GE said.
The company's loss from continuing business attributable to shareholders was $ 1.33 billion in the quarter ended September 30, compared to a loss of $ 22.96 billion the year before.
Loss per share from continuing operations was SEK 15, against a loss of $ 2.64 a year ago, the company said.
On an adjusted basis, which excludes such fees, GE earned 15 cents per share, compared to 11 cents as analysts had expected on average, according to IBES data from Refinitive.
Total revenues fell slightly to $ 23.36 billion from $ 23.39 billion.
(Reporting by Sanjana Shivdas in Bengaluru and Alwyn Scott in New York; Editing by David Holmes and Nick Zieminski)