General Electric posts higher Q3 profit
The results from the Fairfield-based industrial, finance and media conglomerate whose properties range from making to aircraft engines to running the NBC television network matched Wall Street expectations.
By Agencies |
NEW HAVEN: General Electric Co said on Friday its third-quarter earnings rose 14 per cent as its energy and transportation businesses did well.
The results from the Fairfield-based industrial, finance and media conglomerate whose properties range from making to aircraft engines to running the NBC television network matched Wall Street expectations.
GE also reaffirmed its profit outlook for the year.
The company earned $5.54 billion, or 54 cents per share, in the three months that ended September 30, up from $4.87 billion, or 47 cents a share, a year ago.
Earnings from continuing operations were 50 cents per share. Analysts surveyed by Thomson Financial expected earnings per share of 50 cents.
Revenue rose 12 per cent to $42.5 billion from $37.8 billion a year earlier.
"GE delivered a solid quarter in spite of extreme volatility in the financial services market and some one-time items in our industrial businesses," said GE Chairman and Chief Executive Jeff Immelt.
He said profit grew 12 percent in the infrastructure segment, led by a strong performance in the oil and gas, transportation, and energy businesses.
The aviation business was solid as equipment orders rose 93 per cent, he said.
The results from the Fairfield-based industrial, finance and media conglomerate whose properties range from making to aircraft engines to running the NBC television network matched Wall Street expectations.
GE also reaffirmed its profit outlook for the year.
The company earned $5.54 billion, or 54 cents per share, in the three months that ended September 30, up from $4.87 billion, or 47 cents a share, a year ago.
Earnings from continuing operations were 50 cents per share. Analysts surveyed by Thomson Financial expected earnings per share of 50 cents.
Revenue rose 12 per cent to $42.5 billion from $37.8 billion a year earlier.
ADVERTISEMENT
"GE delivered a solid quarter in spite of extreme volatility in the financial services market and some one-time items in our industrial businesses," said GE Chairman and Chief Executive Jeff Immelt.
He said profit grew 12 percent in the infrastructure segment, led by a strong performance in the oil and gas, transportation, and energy businesses.
The aviation business was solid as equipment orders rose 93 per cent, he said.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
