Multinational conglomerate General Electric Company (
) on Friday posted adjusted fourth quarter earnings that beat
expectations, but its revenue fell short of Wall Street's view,
sending its shares lower in premarket trading.
The Fairfield, CT-based company reported fourth quarter net
income of $3.73 billion, or 35 cents per share, compared with $4.54
billion, or 42 cents per share, in the year-ago period. Excluding
one-time items, adjusted profit was 39 cents per share.
Revenue declined 8% from last year to $37.97 billion.
On average, Wall Street analysts expected a slightly smaller
profit of 38 cents per share, albeit on much higher revenue of
GE shares fell 48 cents, or -2.5%, in premarket trading
The Bottom Line
We have been recommending shares of General Electric (
) since Dec.9, 2011, when the stock was trading at $16.80. The
company has a 3.55% dividend yield, based on last night's closing
stock price of $19.15.
General Electric Company (
) is a "Recommended" dividend stock, holding a Dividend.com DARS™
Rating of 3.5 out of 5 stars.
Be sure to visit our complete recommended list of the
Best Dividend Stocks
, as well as a detailed explanation of
our ratings system here