FILE PHOTO: The General Electric logo is pictured on the General Electric offshore wind turbine plant in Montoir-de-Bretagne, near Saint-Nazaire, western France, November 21, 2016. REUTERS/Stephane Mahe/File Photo
April 5, 2018
(Reuters) – General Electric Co <GE.N> said on Wednesday that it planned to provide restated results for 2016 and 2017 to reflect a new accounting standard by April 13.
The updated accounting standard takes into account revenue from long-term contracts, which are being scrutinized by the U.S. Securities and Exchange Commission.
GE had said in February that it expected to take a $4.2 billion accounting charge as it switches to the new standard.
The company also said it would report its first-quarter earnings on April 20 under the new standard and that it would have no impact on its 2018 forecast.
(Reporting by Sanjana Shivdas in Bengaluru; Editing by Anil D’Silva)
