The impact of strong dollar on revenues were $0.9 billion or 2.5% of total revenues for the quarter. McDonald’s (NYSE:MCD), Coca-Cola (NYSE:KO), and Procter&Gamble were among the companies that reported negative currency effects. Coca-Cola was the most successful among these to lessen the blow by increasing its topline.
When we include the effects of discontinued operations General Electric’s EPS attributable to GE declines to $0.29. “Discontinued Operations included $0.05 per share of charges primarily related to WMC and GE Money Japan reserve adjustments. Positive one-time tax items of $0.02 per share were offset by $0.02 per share of restructuring and other charges,” the company said.
Billionaires Ken Fisher and Warren Buffett are among GE’s top shareholders. Adage Capital Management had the largest stake in the company among the 400 hedge funds we are tracking. GE, however, isn’t a very attractive stock among hedge funds.
