What happened General Electric (NYSE: GE) reported earnings today, and showed investors the progress it is making in transforming the organization into a leaner company. But revenue was lower than investors expected, and GE shares were down about 3.5% as of 11 a.m. EDT. So what The industrial conglomerate reported earnings of $0.03 per share, when analysts expected a $0.01 profit. Though revenue didn't impress investors, free cash flow was higher than expected, and $1.7 billion higher than the previous-year period, excluding the biopharma unit that was sold last year. Most importantly, GE gave investors a look at each segment of its leaner business structure. In addition to the $20 billion biopharma sale last year, last month GE announced a deal valued at more than $30 billion to combine its aircraft leasing business, GE Capital Aviation Services (GECAS), with AerCap Holdings. Image source: Getty Images. Now what Aviation continues to be the segment that is struggling the most for the company. While the power, renewable energy, and healthcare segments saw revenue either slightly lower or higher than the year-ago period, aviation revenue declined 28%. GE CEO Larry Culp told CNBC in an interview that the uneven global recovery from the pandemic continued to impact aviation customers. GE said it believes the full-year 2021 outlook is becoming more positive, and sees organic revenue growing in the low single-digits compared to 2020. It believes earnings per share after adjustments will be between $0.15 and $0.25 per share for the year. 10 stocks we like better than General ElectricWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and General Electric wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of February 24, 2021 Howard Smith has no position in any of the stocks mentioned. The Motley Fool recommends AerCap Holdings. The Motley Fool has a disclosure policy.Source