General Electric (GE) Does Little to Impress in Q3 as Infrastructure Orders, FX Hamper Growth
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Price: $23.66 -0.84%
EPS Growth %: +14.7%
Financial Fact:
Net earnings (loss) attributable to the Company: 3.53B
Today's EPS Names:
TARO, SENEA, UQM, More
EPS Growth %: +14.7%
Financial Fact:
Net earnings (loss) attributable to the Company: 3.53B
Today's EPS Names:
TARO, SENEA, UQM, More
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Shares of General Electric (NYSE: GE) are indicated lower Friday morning following tepid third-quarter results from the international megaconglomerate.
Revenue rose 3 percent to $36.4 billion, from $35.4 billion in the same period last year. Excluding the effect of foreign exchange, revs rose 6 percent in the period.
Net income rose 8 percent to $3.49 billion, or 33 cents per share. After adjusting for a preferred stock redemption, EPS was a little more robust at 36 cents per share.
Overall, the Street was looking for revs of $36.8 billion and EPS of 36 cents.
Revenue growth was led by GE's industrial segment, which reported a 6 percent gain. Infrastructure orders fell 5 percent as wind turbine demand dropped.
GE Capital profit rose 11 percent in the quarter and returned a dividend of $2.4 billion to GE in the quarter. Total dividends paid for the year were $5.4 billion.
Operating cash was $10.7 billion in the quarter.
GE noted that it "is performing well and is on track to deliver double-digit earnings growth in 2012 for both Industrial and GE Capital segments."
Shares of GE are bid at $22.30 this morning, from a close at $22.81 Thursday.
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Revenue rose 3 percent to $36.4 billion, from $35.4 billion in the same period last year. Excluding the effect of foreign exchange, revs rose 6 percent in the period.
Net income rose 8 percent to $3.49 billion, or 33 cents per share. After adjusting for a preferred stock redemption, EPS was a little more robust at 36 cents per share.
Overall, the Street was looking for revs of $36.8 billion and EPS of 36 cents.
Revenue growth was led by GE's industrial segment, which reported a 6 percent gain. Infrastructure orders fell 5 percent as wind turbine demand dropped.
GE Capital profit rose 11 percent in the quarter and returned a dividend of $2.4 billion to GE in the quarter. Total dividends paid for the year were $5.4 billion.
Operating cash was $10.7 billion in the quarter.
GE noted that it "is performing well and is on track to deliver double-digit earnings growth in 2012 for both Industrial and GE Capital segments."
Shares of GE are bid at $22.30 this morning, from a close at $22.81 Thursday.
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