GE Quarterly Profit Up 18 Percent
BOSTON (Reuters) - General Electric Co. on Friday posted an 18 percent rise in quarterly profit, boosted by broad-based earnings growth in its finance, transportation and health-care businesses. GE's results topped Wall Street estimates for both earnings and revenues, leading U.S. stock futures higher. GE, which produces everything from gas turbines to television shows and credit cards, had a fourth-quarter net profit of $5.38 billion, or 51 cents a share, up 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. GE Chief Executive Jeff Immelt, in a statement, cited "an excellent global economy" as one factor for the higher earnings. U.S. stock futures moved higher in the moments after GE reported earnings. S&P 500 futures SPH5> moved from 1,177.50 to 1,179.60 after the headlines crossed. GE's revenue jumped 18 percent to $43.7 billion in the quarter from $37 billion a year earlier. GE repeated its forecast for earnings-per-share growth of 10 percent to 15 percent in 2005. GE has forecast earnings of $1.75 to $1.83 a share this year, while analysts forecast EPS of $1.81, according to Reuters Estimates. "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. GE, based in Fairfield, Connecticut, reported double-digit percentage growth in earnings at nine of its 11 business segments, including a 50 percent increase at its health-care unit.
Quelle "GE Quarterly Profit Up 18 Percent" : reuters.com
Main page for "GE Quarterly Profit Up 18 Percent"
|
|
|
|
|
|