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
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