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General Electric Beats Q4 Sales, Misses on Earnings Amid Uneven Culp Turnaround
General Electric posts weaker-than-expected fourth-quarter earnings Thursday but notes solid sales over the period that helped push shares higher.
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General Electric said adjusted non-GAAP earnings for the three months ended in December came in at 17 cents per share, down around 36% from the same period last year and well shy of the 22 cent Wall Street forecast. Group revenues, GE said, rose 5% to $33.28 billion, firmly ahead of the consensus forecast of $32.6 billion.
GE also said it was able to retain or generate around $10 billion in cash over the quarter thanks to its dividend cut and the sale of parts of its stake in oil services group Baker Hughes (BHGE - Get Report) . Cash flow from operations, however, slowed 8.6% from last year to around $6.4 billion.
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https://www.thestreet.com/investing/earn...yptr=yahoo
General Electric posts weaker-than-expected fourth-quarter earnings Thursday but notes solid sales over the period that helped push shares higher.
...
General Electric said adjusted non-GAAP earnings for the three months ended in December came in at 17 cents per share, down around 36% from the same period last year and well shy of the 22 cent Wall Street forecast. Group revenues, GE said, rose 5% to $33.28 billion, firmly ahead of the consensus forecast of $32.6 billion.
GE also said it was able to retain or generate around $10 billion in cash over the quarter thanks to its dividend cut and the sale of parts of its stake in oil services group Baker Hughes (BHGE - Get Report) . Cash flow from operations, however, slowed 8.6% from last year to around $6.4 billion.
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https://www.thestreet.com/investing/earn...yptr=yahoo
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