FILE – In this Monday, Sept. 10, 2012 file photo, a General Electric logo is seen on a kitchen stove at a Lowe’s store in Framingham, Mass. General Electric Co. is reporting, Friday, Jan. 18, 2013, that net income rose 8 percent in the fourth quarter as earnings at all of the conglomerate’s industrial segments improved due to growth in developing economies. (AP Photo/Steven Senne, File)
NEW YORK (AP) — General Electric Co. has been re-energized.
Performance at all of the conglomerate’s industrial segments is improving thanks to cost cutting, a shift in strategy and growth in emerging markets.
GE, based in Fairfield, Conn., reported an operating profit per share of 44 cents, a penny higher than analysts polled by FactSet expected. Perhaps more importantly for shareholders, GE’s revenue rose 4 percent to $39.3 billion and beat Wall Street expectations. Shares rose over 3 percent Friday.
CEO Jeff Immelt said the outlook for developed markets remained uncertain. But China and other emerging markets, along with regions that are exploiting natural Login to read more