GE Results Beat Estimates

Published by: Frank Galvano on 21st Jan 2011 | View all blogs by Frank Galvano
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GE Results Beat Estimates

General Electric released its fourth-quarter results Friday, posting stronger-than-expected earnings and revenue thanks to expanded growth in its finance sector and equipment orders.  The conglomerate, based in Fairfield, Connecticut, posted fourth-quarter earnings from its continuing operations of $3.9 billion, a 31 percent increase over the same period of 2009.

The company's per share earnings, meanwhile, were reported as 36 cents, up 33 percent from 2009's fourth quarter and 4 cents higher than the consensus estimate of analysts in a recent Thomson Reuters poll.  Net income, which includes discontinued operations, was $4.5 billion for the quarter, up 51 percent from the same period a year ago.

The blue-chip giant also said that its year-to-year revenue gained 1 percent in the fourth quarter to $41.4 billion, after dropping for eight straight quarters.  Analysts had projected a drop in the company's revenue of 4 percent.  Shares of the company rose more than 5 percent on the news at about the midway point of Friday's session.

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