GE profit, cash flow beat estimates on strong aviation business

This post was originally published on this site

By Rachit Vats and Alwyn Scott

(Reuters) – General Electric Co (N:) on Wednesday reported a 30% jump in quarterly profit that beat analysts’ estimates, boosted by its aviation business, but forecast 2020 profit below estimates.

On an adjusted basis, GE earned 21 cents per share, topping analyst estimates of 18 cents a share, according to data from Refinitiv.

Free cash flow from industrial operations totaled $3.9 billion in the quarter, beating analysts estimates of $3.4 billion, according to Refinitiv data.

Total revenue fell about 1% to $26.24 billion.

Earnings from continuing operations attributable to GE shareholders rose to $663 million in the fourth quarter ended Dec. 31 from $509 million a year earlier.

Earnings per share from continuing operations rose to 7 cents from 6 cents, the company said.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Add Comment