Home > sector analysis > GE Beats

GE Beats

General Electric Company (NYSE: GE) has reported better-than-expected Q2 earnings, while its revenue fell short of the Street view.

The Fairfield, Connecticut-based company has reported a 15% year-over-year rise in its earnings from continuing operations to $3.3 billion, or $0.30 per share. The company’s revenue fell 4% to $37.4 billion, due to lower GE Capital assets and industrial dispositions and lower-than-expected equipment sales. The analysts expected the company to post its EPS at $0.27 on $38.4 billion of revenue.

GE has generated $6.3 billion of total cash from operating activities of GE Industrial in the first six months of 2010, down 10% from the previous year period.

GE Chairman and CEO Jeff Immelt mentioned, “GE’s portfolio generated solid results across the board,” He further added, “Our Energy and Technology Infrastructure businesses performed as expected, Home & Business Solutions and NBCU turned in good revenue and earnings growth, and GE Capital delivered 93% net income growth as losses have peaked and earnings are rebounding.”

GE’s shares gained 2.30% to $15.60 in pre-market trading.

Benzinga

Advertisements
  1. No comments yet.
  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: