FAIRFIELD, Conn. (AP) _ General Electric Co. (GE) on Friday reported third-quarter profit of $2.03 billion.
The Fairfield, Connecticut-based company said it had profit of 22 cents per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, were 32 cents per share.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 31 cents per share.
The industrial conglomerate posted revenue of $29.27 billion in the period, which missed Street forecasts. Five analysts surveyed by Zacks expected $29.84 billion.
GE shares have declined roughly 7 per cent since the beginning of the year, while the Standard & Poor’s 500 index has increased almost 5 per cent. The stock has increased 1 per cent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GE at http://www.zacks.com/ap/GE
Keywords: General Electric, Earnings Report, Priority Earnings