Profit at GE Renewable Energy fell 30% in the first half of the year to $159m from $228m in the same period of 2017, due to a “challenging price dynamic” in the market.
Revenue also declined in the latest period to just under $3.3bn from almost $4.1bn last year.
Orders stood at just over $4.16bn in the first six months of the year, on a par with 2017.
The company said it was seeing strong global demand for onshore wind, despite the price challenge.
Overall, GE revenue was up 6% in the first half of 2018 to almost $55bn from just under $51.7bn last year.
GE chairman and chief executive John Flannery said: “With our strategic review now complete, GE is moving forward to implement the strategy and structure we laid out in June.
“Our focus is on unrelenting execution of this plan to improve operating results, strengthen our balance sheet, accelerate growth across our businesses, and increase shareholder value.”
In June, GE announced plans for the company to focus on three key areas – renewables, power and aviation.
Image: GE
GE renewables profit drops 30%
By EBS