US giant GE sees earnings jump 61%, beat forecasts

GMT 20:30 2015 Friday ,23 January

Arab Today, arab today US giant GE sees earnings jump 61%, beat forecasts

General Electric
New York - AFP

US conglomerate giant General Electric on Friday reported a robust jump in profits for the fourth quarter as it shifts focus back to its core industrial roots.
GE posted net income of $5.15 billion for the October-December quarter, a gain of 61 percent from a year ago.
Operating earnings per share, which are closely tracked by Wall Street, came in at 56 cents, a penny more than analysts expected. That was 5.7 percent higher than in the 2013 fourth quarter.
"GE ended the year with strong fourth-quarter industrial earnings and margin growth. The environment remains volatile, but we continue to see infrastructure growth opportunities," said Jeffrey Immelt, GE chairman and chief executive.
For the 2014 full year, GE's net income was $15.2 billion, a 16.7 percent increase from 2013.
Full-year revenues of $148.6 billion were up 1.7 percent from a year ago but slightly below analysts' $148.7 billion estimate.
Shares in Dow member GE were flat in pre-market trading.


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