GE Profit Rises, Says Economy 'Excellent' By Daisuke Wakabayashi BOSTON (Reuters) - General Electric Co. (GE.N: Quote , Profile , Research ) on Friday posted an 18 percent rise in quarterly profit, slightly topping Wall Street estimates as it reported broad-based growth across its finance and industrial businesses. GE, which produces everything from gas turbines to television shows and credit cards, repeated its forecast for earnings-per-share growth of 10 percent to 15 percent in 2005 and said growth was sustainable into 2006. GE Chief Executive Jeff Immelt also delivered a bullish view on the global economy, categorizing it as "excellent." Shares of GE, based in Fairfield, Connecticut, rose modestly in premarket trade and its results led U.S. stock futures higher. GE's fourth-quarter net profit rose to $5.38 billion, or 51 cents a share, from $4.56 billion, or 45 cents a share, a year earlier. Analysts on average forecast earnings of 50 cents a share, according to Reuters Estimates. Revenue jumped 18 percent to $43.7 billion from $37 billion a year earlier. "It's very positive," said Steve Roukis, director of research at Matrix Asset Advisors, which owns 1.4 million GE shares and manages $2.2 billion in assets. "The industries GE is in are doing very well. The materials, financial and industrial sectors are all picking up." GE reported double-digit percentage growth in earnings at nine of its 11 business segments, including a 50 percent increase at its health-care unit and a 60 percent jump at its media arm, NBC Universal. Sales and profits at those units were buoyed in part by the acquisitions of British bioscience firm Amersham Plc and Vivendi Universal Entertainment in 2004. During three years of moderate growth, Immelt has pledged GE would return to its customary double-digit profit growth in 2005 and be better positioned in high-growth markets such as health-care, security and renewable energy. "We are very confident about achieving 10-15 percent earnings growth with strong cash flow growth and sustaining this growth into 2006 as well," Immelt said.     Continued ... Quelle "GE Profit Rises, Says Economy 'Excellent'" : reuters.com Main page for "GE Profit Rises, Says Economy 'Excellent'"