24-Jan-2011 10:58 AM
GE revenue up 1%, profits jump in 4Q2010
General Electric Company (GE) reports (21-Jan-2011) the following financial highlights:
- Three months ended 31-Dec-2010:
- Revenue: USD41,377 million, +1% year-on-year;
- Profit from continuing operations: USD4159 million, +34%;
- Segment profit: USD6132 million, +28%;
- Net profit: USD4535 million, +51%;
- 12 months ended 31-Dec-2010:
- Revenue: USD150,211 million, -3%;
- Profit from continuing operations: USD13,158 million, +18%;
- Segment profit: USD19,568 million, +9%;
- Net profit: USD12,179 million, +6%;
- Total assets: USD751.2 billion, -3.9%;
- Total liability: USD627 billion, -4.5%. [more]
GE: "We expect that GE earnings growth will continue in 2011 and 2012. We have simplified the portfolio and dramatically reduced risk. We have invested in organic growth with global partnerships, a 21% increase in R&D and a broad array of new products. We are executing a balanced and disciplined capital-allocation plan with dividend increases, acquisitions and share repurchases. Our framework for 2011 is quite achievable and we are optimistic about the future," Jeff Immelt, Chairman and CEO. Source: GE, 21-Jan-2011.