GE lights up 4Q
Jan 18, 2013 / 5:28 am
General Electric Co. is reporting that net income rose 8 per cent in the fourth quarter as earnings at all of the conglomerate's industrial segments improved due to growth in developing economies.
GE, based in Fairfield, Conn., reported net income of $4 billion on revenue of $39.3 billion for the quarter. Last year during the same period the company earned $3.7 billion on sales of $38 billion. Per share earnings rose to 38 cents from 35 cents last year.
The company's operating profit per share was 44 cents, a penny higher than analysts polled by FactSet expected. GE's revenue also beat analyst expectations of $38.8 billion.
The company cited strong growth in emerging markets and in regions that are exploiting natural resources, including Russia, Australia, Latin America, China and Sub-Saharan Africa.
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