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General Electric Shares Rise as Q4 Profit, Revenue Beat View (GE)
Multinational conglomerate General Electric Company ( GE ) on Friday said its fourth quarter profit jumped 50% from last year, beating analyst estimates and sending its shares higher in premarket trading.
The Fairfield, CT-based company reported fourth quarter net income of $4.5 billion, or 42 cents per share, compared with $3 billion, or 28 cents per share, in the year-ago period. Excluding one-time items, adjusted profit was 36 cents per share.
Revenue rose 1% from last year to $41.38 billion.
On average, Wall Street analysts expected a smaller profit of 32 cents per share, on lower revenue of $39.9 billion.
GE shares rose 70 cents, or +3.8%, in premarket trading Friday.
The Bottom Line
We have been recommending shares of General Electric ( GE ) since July 23, 2010, when the stock was trading at $15.21. The company has a 3.04% dividend yield, based on last night's closing stock price of $18.43.
General Electric Company ( GE ) is a "Recommended" dividend stock, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.