FAIRFIELD, Conn. – General Electric Co. (GE) on Friday reported fourth-quarter net income of $5.15 billion.
The Fairfield, Connecticut-based company said it had profit of 51 cents per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, were 56 cents per share.
The results surpassed Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 55 cents per share.
The industrial conglomerate posted revenue of $42 billion in the period, falling short of Street forecasts. Analysts expected $42.4 billion, according to Zacks.
GE shares have fallen nearly 4 per cent since the beginning of the year, while the Standard & Poor’s 500 index has stayed nearly flat. The stock has decreased almost 7 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