General Electric’s Q2 Profit Slumps 18% on Charges; Adjusted Results Narrowly Edge View (GE)

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Multinational conglomerate General Electric Company ( GE ) on Friday posted a downturn in second quarter earnings results but stood by its full-year outlook.

The Fairfield, CT-based company reported second quarter net income of $3.1 billion, or 29 cents per share, compared with $3.8 billion, or 35 cents per share, in the year-ago period. Excluding special items, adjusted profit was 38 cents per share.

Revenue rose 2% from last year to $36.5 billion.

On average, Wall Street analysts expected a smaller profit of 37 cents per share, on larger revenue of $36.77 billion.

Looking ahead, GE said it's still on track to achieve double-digit earnings growth for the full year 2012. CEO Jeff Immelt commented, "Today's results demonstrate that we are executing on our growth strategy in the midst of a still volatile global economy."

General Electric shares fell 20 cents, or -1%, in premarket trading Friday.

The Bottom Line
We have been recommending shares of General Electric ( GE ) since Dec.9, 2011, when the stock was trading at $16.80. The company has a 3.43% dividend yield, based on last night's closing stock price of $19.80.

General Electric Company ( GE ) is a "Recommended" dividend stock, holding a 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 .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Stocks

Referenced Stocks: GE

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