GE Notes Higher-than-Expected Profits for Q4

.

GE Notes Higher-than-Expected Profits for Q4

As per a recent report, profits for GE or General Electric for the fourth quarter have this time crossed its expectations. While a quarter earlier, the company received orders making profit of $203 billion, the same this quarter came with a heavy log jam and the profit touched $210 billion.

It is being said that the backlog always serves a best measure of a growth feature. The increase in profit is being deemed to be a result of its new move into oil and gas equipment. Also, to some extent, improved earnings realized at its financial business are being given credit.

The report finds that the net income for the Q4 this year was $4 billion, 38 cents per share, while the same was $3.7 billion a year back, 35 cents a share. If one-time things are not considered, 44 cents a share are made by GE, the largest U. S. conglomerate.

CEO Jeff Immelt affirmed that though the viewpoint regarding developed markets is uncertain, growth is being seen in China as well as the resource rich countries.

"We do like GE's strategic direction, execution appears to be improving, earnings are growing, and capital allocation is still sound. However we still question how much you should pay for it", said Steve Winoker, Sanford C. Bernstein analyst.

 


Latest News

Exxon CEO Rebuffs Criticism of Not Doing Enough to Cut Carbon Emissions
McDonald’s Toasting Buns for Longer to get Better Taste
SWIFT says, Yuan is presently the Most-Used Currency in Asia for Payments to Chi
U.S. Dollar gets a Lift Strengthening Hopes of Raise in Interest Rate
Hackers Steal Tax Information of 100,000 American Taxpayers from IRS site
Charter Communications is Acquiring Time Warner Cable for about $56 Billion
Greece’s Interior Minister Says Greece will not be Able to Repay Debt Next Month
Nikos Voutsis, Greece’s Interior Minister
Rig Count in U.S Slows, Oil Trades Close to $60
Third Annual ‘March against Monsanto’ held on Saturday
In Response to Tuesday’s Oil Spill, Governor Jerry Brown
Ruptured Oil Pipeline Leads to 21,000 gallons of Oil Flowing into California Coa