GE posts first-quarter losses over $13B

One week after announcing it would dismantle most of its financing operations, General Electric reported a first-quarter loss of $13.6 billion.

In 2014, the company reported a first-quarter profit of $3 billion.

The results were the effect of charges related to the corporation’s strategic shift, following news it would sell off GE Capital and associated real estate holdings, according to USA Today.

Excluding the impact of that sale, GE reportedly made 31 cents a share in the first quarter, down 6 percent from the same period last year. Operating earnings in the industrial segments around which the company is refocusing its future climbed 14 percent during the first quarter of 2015.

Read more from USA Today.