General Electric Company
The company reported earnings from continuing operations of $2.1 billion, or $0.23 a share, representing a growth of 21 percent from the year-ago period. Similarly, net earnings grew 12 percent to $2.0 billion, or $0.22 a share. Adjusted earnings were $2.9 billion, or $0.32 a share, which was in line with the Street estimates of $0.32 per share, and represented 10 percent year-over-year growth.
General Electric's total revenues advanced 4 percent to $29.3 billion thus missing the Street analysts' predictions of $29.64 billion.
Chairman and CEO Jeff Immelt commented, "GE's portfolio transformation is bringing real returns to investors. The GE Capital asset sales are substantially complete. We are returning cash to investors while making investments in the future of the company, including acquisitions in digital, additive manufacturing and renewable energy. Our acquisition of Alstom's power and grid businesses are contributing to our growth. We are investing for the future and executing our Digital Industrial strategy for customers and investors."
Following the results, the stock shed 0.58 percent to $28.90 in the pre-market trading on Friday.
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