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GE Profit Beats Estimates, Revenue Falls Short

This morning, General Electric (NYSE: GE) posted second-quarter earnings that topped consensus estimates as profit climbed at its energy and finance units. Earnings from continuing operations rose to $4.01 billion, or $0.38 per share, excluding some costs. That compared with…

By Trey Thoelcke
Published July 20, 2012, 7:27am ET · 1 min read

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This morning, General Electric (NYSE: GE) posted second-quarter earnings that topped consensus estimates as profit climbed at its energy and finance units.

Earnings from continuing operations rose to $4.01 billion, or $0.38 per share, excluding some costs. That compared with $3.75 billion or $0.34 per share in the previous year. Revenue rose 2% to $36.5 billion, but that fell short of analysts’ estimates of $36.8 billion.

The company said GE Capital profit rose 31% to $2.12 billion, while energy division earnings gained 13%. GE Capital’s strong operating performance and capital position allowed it to return a $3 billion dividend to the parent.

“Today’s results demonstrate that we are executing on our growth strategy in the midst of a still volatile global economy,” said GE CEO Jeffrey Immelt.

Under the stewardship of Immelt, GE continues its efforts to boost industrial earnings and shrink the finance arm, which suffered about $32 billion of credit losses during the financial crisis.

The stock, which has traded between $14.02 and $21.00 over the past year, ended Thursday’s regular session at $19.80. Shares are up about 1% in premarket trading to $20.

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Trey Thoelcke

Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.
Beyond 24/7 Wall St., Trey has created and edited financial content for Benzinga and AOL's BloggingStocks, contributing additional hundreds of articles to the investment community.
Trey's editorial expertise extends across multiple publishing environments. He served as production editor at Dearborn Financial Publishing and development editor at Kaplan, where he helped shape financial education materials. Earlier in his career, he worked as a writer-producer at SVE. His freelance editing portfolio includes work for prestigious clients such as Sage Publications, Rand McNally, the Institute for Supply Management, the American Library Association, Eggplant Literary Productions, and Spiegel.
Outside of financial journalism, Trey writes fiction and has been an active member of the writing community for years, moderating workshop sessions at regional conventions.

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