General Electric Tops Estimates Despite ‘Volatile and Slow Growth Economy’
General Electric GE posted earnings for its most recent quarter that beat the Street's expectations.
General Electric (GE) - Get Report posted earnings for its most recent quarter that beat the Street's expectations, despite what CEO Jeffrey Immelt's lackluster characterization of the economy. Profit of $0.51 a share topped estimates of $0.46. Revenue rose 15 percent year-over-year to $33.5 billion, ahead of the $31.9 billion Wall Street was looking for. Craig Erlam, a senior market analyst at Oanda, based in London, said General Electric was a good stock for investors looking for a long-term play and was impressed with the company's quarterly results. The company also made headlines for scoring $25 billion worth of jet engine orders at the recent Farnborough Air Show. TheStreet's Scott Gamm reports from Wall Street.









