Multinational conglomerate General Electric Company (GE) on Friday posted adjusted fourth quarter earnings that beat expectations, but its revenue fell short of Wall Street’s view, sending its shares lower in premarket trading.
The Fairfield, CT-based company reported fourth quarter net income of $3.73 billion, or 35 cents per share, compared with $4.54 billion, or 42 cents per share, in the year-ago period. Excluding one-time items, adjusted profit was 39 cents per share.
Revenue declined 8% from last year to $37.97 billion.
On average, Wall Street analysts expected a slightly smaller profit of 38 cents per share, albeit on much higher revenue of $40.05 billion.
GE shares fell 48 cents, or -2.5%, in premarket trading Friday.
The Bottom Line
We have been recommending shares of General Electric (GE) since Dec.9, 2011, when the stock was trading at $16.80. The company has a 3.55% dividend yield, based on last night’s closing stock price of $19.15.
General Electric Company (GE) is a “Recommended” dividend stock, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.