News Column

GE 2Q profit climbs 13 percent

July 18, 2014



FAIRFIELD, Conn. (AP) General Electric Co. (GE) on Friday reported earnings that rose by 13 percent in its second quarter. The results matched analysts' expectations.

The Fairfield, Connecticut-based company said profit increased to $3.55 billion, or 35 cents per share, from $3.13 billion, or 30 cents per share, in the same quarter a year ago.

Earnings, adjusted for non-recurring costs and to account for discontinued operations, were 39 cents per share. The average per-share estimate of analysts surveyed by Zacks Investment Research was for profit of 39 cents.

The industrial conglomerate said revenue climbed 3.2 percent to $36.23 billion from $35.12 billion in the same quarter a year ago, and missed Wall Street forecasts. Analysts expected $36.26 billion, according to Zacks.

General Electric shares have dropped $1.42, or 5.1 percent, to $26.61 since the beginning of the year, while the Standard & Poor's 500 index has risen 5.9 percent. However, the stock has risen $2.98, or 13 percent, in the last 12 months.

This story was generated automatically by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Full GE report: http://www.zacks.com/ap/GE

Keywords:GE,Earnings Report


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Source: Associated Press


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