Multinational conglomerate General Electric Company (
) 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
General Electric shares fell 20 cents, or -1%, in premarket
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 3.43% dividend yield, based on last night's closing
stock price of $19.80.
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
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