General Electric’s Q3 Earnings Fail to Impress (GE)

By Staff,

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Multinational conglomerate General Electric Company ( GE ) on Friday posted adjusted third quarter earnings results that just met analyst expectations, and its slower industrial orders growth raised concerns about its 2012 profit projections.

The Fairfield, CT-based company reported third quarter net income of $2.34 billion, or 22 cents per share, compared with $1.98 billion, or 18 cents per share, in the year-ago period. After factoring out a bevy of one-time items, adjusted profit was 31 cents per share.

Revenue was flat from last year at $35.37 billion.

On average, Wall Street analysts expected a matching profit of 31 cents per share, on lower revenue of $34.94 billion.

General Electric shares fell 19 cents, or 1.1%, in premarket trading Friday.

The Bottom Line
Shares of General Electric ( GE ) have a 3.61% dividend yield, based on last night's closing stock price of $16.63. The stock has technical support in the $14-$15 price area. If the shares can firm up, we see overhead resistance around the $18 price level.

General Electric Company ( GE ) not recommended at this time, holding a DARS™ Rating of 3.3 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 Nasdaq, Inc.

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This article appears in: Investing Stocks
Referenced Stocks: GE

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