General Electric Earnings: Here’s Why Shares Are Sizzling Higher
General Electric Co. (NYSE:GE) generated a profit and beat Wall Street’s expectations, AND topped the revenue expectation. The revenue beat is a positive sign to shareholders seeking growth out of the conglomerate. Shares are surging upward 3.15%.
General Electric Co. Earnings Cheat Sheet
Results: Net operating income increased 7% to $4 billion (38 cents per diluted share) in the quarter versus a net gain of $3.73 billion in the year-earlier quarter.
Revenue: Rose 3.57% to $39.33 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: General Electric Co. reported net income of 44 cents per share, excluding one-time items. By that measure, the company beat the mean analyst estimate of $0.43. It beat the average revenue estimate of $38.74 billion.
Quoting Management: “We ended the year with a strong quarter despite the mixed global economic environment,” said GE Chairman and CEO Jeff Immelt…