General Electric’s Adjusted Q4 Profit Beats View; Revenue Misses (GE)
Multinational conglomerate General Electric Company ( GE ) 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 $40.05 billion.
GE shares fell 48 cents, or -2.5%, 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 3.55% dividend yield, based on last night's closing stock price of $19.15.
General Electric Company ( GE ) is a "Recommended" dividend stock, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.