Industrial goods manufacturer General Electric Company GE is actively pursuing its massive restructuring program in order to create a simpler and nimbler firm with a re-focus on core operations. From a classic conglomerate with diversified business interests in financial services, media, industrial and technology-based operations, the company is pruning its operating portfolio to focus on core manufacturing businesses with a digital edge.GE has sold its appliance business to Haier Group, a Chinese multinational consumer electronics manufacturing firm. The transaction unlocked incremental value by allocating more resources to high-growth core industrial businesses. However, for a company as large as GE, additional revenues needed for growth are quite large, posing a challenge in developing businesses on such a vast scale. In the last four trailing quarters, GE has reported a positive average earnings surprise of 7.6%, beating estimates thrice.Earnings estimate revisions have moved in south in the last month as investors remain sceptical about the performance of the company. Currently, GE has a Zacks Rank #3 (Hold), but that could definitely change following first-quarter 2016 earnings report, which was just released. We have highlighted some of the key stats from this just-revealed announcement below:Earnings: GE operating earnings match estimates. The Zacks Consensus Estimate called for EPS of 21 cents, and the company reported operating+verticals EPS of 21 cents.Revenue: Quarterly revenues miss estimates. GE posted consolidated revenues of $27,845 million, compared with Zacks Consensus Estimate of $28,976 million.Key Stats to Note: Till date, GE has inked sale agreements worth approximately $166 billion, of which it has completed deals worth $146 billion – well ahead of its plan. With valuable synergies realized from the Alstom acquisition, GE has reiterated its industrial operating EPS guidance for 2016 and remains confident to return $26 billion to shareholders.Stock Price: Shares were slightly down in pre-market trading following the release as investors probably looked for a healthier earnings beat.Check back our full write up on this GE earnings report later!Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report GENL ELECTRIC (GE): Free Stock Analysis Report To read this article on Zacks.com click here.