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

In a Peppy Second Quarter US economy Experiences a 4% Growth
After Talks Fail With The Creditors Argentina Yet Again Falls into Default
Feds Expected to Trim Bond Purchases, Could Also Offer Hazy Clues on Interest Ra
After First Six Months of Sales Toyota Remains at Top
McDonald's Franchisee ruling Gives Rise to Business-Labour Arguments
Breakage in Main Pipe Causes Havoc in UCLA
Southwest Airlines to Be Charged a Fine of $12 million Over Issues Related to Re
Zillow to Purchase Trulia; A Merger That Will Create a Real Estate Giant Listing
More than One Third of Americans Debt Offenders
Video Shows Baby Turtles Heading to Sea
Bear Stearns, Alan 'Ace' Greenberg, dies at 86
Former U.S. official Says President Obama Could Restrain Corporate 'Inversions'