Serving customers in more than 100 countries, General Electric Company ( GE ) is one of the largest and the most diversified technology and financial services corporations in the world. The company is actively continuing with its strategic restructuring initiatives to focus more on its core industrial businesses.
However, for a company as large as GE, additional revenues needed for growth are quite large, posing a challenge in developing businesses on such a vast scale. As two important milestones, including the acquisition of French conglomerate Alstom's energy assets and the pending complete spin-off of its consumer-lending arm Synchrony Financial is nearing conclusion, investors have been eagerly waiting for the company's latest earnings report. In the last four trailing quarters, GE has reported a positive average earnings surprise of 1.46%, meeting the estimates twice.
Earnings estimate revisions have moved south in the last month on apprehensions and uncertainty regarding both operational and execution risks. Currently, GE has a Zacks Rank #3 (Hold), but that could definitely change following the company's earnings report, which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: GE beat on operating earnings. The Zacks Consensus Estimate called for EPS of 55 cents, and the company reported operating EPS of 56 cents
Revenue: Revenues missed. GE posted revenues of $42,004 million, compared with Zacks Consensus Estimate of $42,399 million.
Key Stats to Note: 2015 has been termed as a pivotal year for GE as it renews the strategic aim to establish itself as a manufacturing-based entity with emphasis on big-ticket items such as medical equipment and scanners. Consequently, the future quarters are likely to script a new history for this diversified conglomerate.
Stock Price: Shares remained flat in pre-market trading following the release.
Check back our full write up on this GE earnings report later!
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