Friday

GE profit meets Wall Street on strong jet engine sales


General Electric Co. reported a first-quarter profit in line with Wall Street's expectations on Friday, as the conglomerate sold more jet engines and shed its stake in NBC Universal.

The world's biggest maker of jet engines and electric turbines said it earned $3.53 billion, or 34 cents per share, compared with $3.03 billion, or 29 cents per share, a year earlier.

Excluding one-time items, the company earned 35 cents per share, matching analyst expectations, according to Thomson Reuters.

Revenue rose slightly to $35 billion, beating the $34.51 billion analysts had expected.

GE's order backlog—a closely watched indicator of future sales—rose to $216 billion from $210 billion in the fourth quarter of 2012.


GE shares fell slightly to $22.65 in premarket trading. — Reuters

source: gmanetwork.com