April 4, 2018 / 10:35 PM / 7 months ago

GE to restate two years of earnings by April 13

April 4 (Reuters) - General Electric Co 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)

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