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

Microsoft’s Monday Announcements; Agreement with AOL to Move Display Ads, Sells
Phil Knight, Nike’s Co-Founder will Leave the Chairman’s Post Next Year
In spite of Introducing Several Stimulus, China’s Economy Indicates Weakness
Puerto Rico’s Financial Problems Grow Further as Report Says It Can no Longer Me
The Reckless Murderer, Detroit Women Killed Two of Her Own Children!
FTC’s Lawsuit Drives Sysco to Annul Buyout Deal with US Foods
Increasing Shark Attacks in North Carolina Beaches; Is Shark Fishing to be Blame
Solar Impulse Starts its Flight Across the Pacific Ocean
California Regulators Ordered San Francisco to Stop Diverting River During Droug
Supreme Court’s Ruling Says Same-Sex Marriage is Unconstitutional to be Banned b
MTA Sued by Comedy Duo for Rejecting to Put-up anti-Islamophobia Posters on Subw