by Christopher Freeburn | October 18, 2013 8:56 am
Shares of General Electric (GE) climbed almost 3% in Friday pre-market trading after the company posted better-than-expected quarterly results.
GE earnings during the third quarter were $3.19 billion, down from $3.49 billion during the same period last year. Adjusted EPS came in at 40 cents, topping the 35 cents that Wall Street had forecast, the Associated Press noted.
GE generated $35.7 billion in revenue in the third quarter, down from $36.3 billion in the prior year. It reported orders of $25.7 billion for the quarter, up 19%.
Operating profits at its industrial division jumped $3.97 billion in the quarter, up 11% compared to last year. Earnings at the giant’s oil and gas, home and business solutions, aviation and transportation units all increased by better than 10%.
Earlier this month, GE won a $1 billion deal to supply engines for Boeing (BA) 787 Dreamliners purchased by Vietnam Airlines.
Source URL: http://investorplace.com/2013/10/ge-earnings-beats-forecasts-despite-profit-dip/
Short URL: http://invstplc.com/1nx4sC2
Copyright ©2015 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.