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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;
      • Technology infrastructure: USD10,930 million, +9%;
        • Aviation: USD4804 million, +1%;
      • GE Capital: USD11,899 million, -4%;
        • GECAS: USD1308 million, +9%;
    • Profit from continuing operations: USD4159 million, +34%;
    • Segment profit: USD6132 million, +28%;
      • Technology infrastructure: USD1883 million, +11%;
        • Aviation: USD821 million, -14%;
      • GE Capital: USD1056 million, +967%;
        • GECAS: USD432 million, +53%;
    • Net profit: USD4535 million, +51%;
  • 12 months ended 31-Dec-2010:
    • Revenue: USD150,211 million, -3%;
      • Technology infrastructure: USD37,860 million, -2%;
        • Aviation: USD17,619 million, -6%;
      • GE Capital: USD47,040 million, -5%;
        • GECAS: USD5127 million, +12%;
    • Profit from continuing operations: USD13,158 million, +18%;
    • Segment profit: USD19,568 million, +9%;
      • Technology infrastructure: USD6314 million, -7%;
        • Aviation: USD3304 million, -16%;
      • GE Capital: USD3265 million, +123%;
        • GECAS: USD1195 million, +18%;
    • 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.

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