Author: Vitaliy Dadalyan

General Electric to restate two years of earnings

General Electric will restate its earnings for 2016 and 2017 as it adopts a new accounting standard, according to a regulatory filing Friday. The updated accounting standard, which will take into account revenue from long-term contracts, will result in a 13 cent cut in reported earnings per share for 2016 and a cut of 16 cents per share for 2017, according to the company's 10-K filing. The company will restate earnings when it reports 2018 results, GE said in the filing.


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