GE (GE) announced earnings this morning. Revenue rose rose 5.7%. Results were hurt by the company’s industrial division, especially its plastics unit. Earnings rose to $4.51 billion from $4.44 billion in the same quarter a year ago. EPS rose 7% to $.44.
According to MarketWatch, GE had challenges in some of its core units: ""GE Money’s earnings were tempered by challenges at its U.S. mortgage business (WMC), and [GE] Healthcare had a temporary regulatory suspension on shipments of its surgical supplies that affected their performance," said CEO Jeff Immelt.
All in all, a poor performance for Fortune’s most admired company and the greatest management team in the world.
Douglas A. McIntyre
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.