GE Badly Misses Q3 Earnings, Lowers View & Defers Dividend
Zacks Investment Research | Oct 19, 2017 09:35PM ET
Industrial goods manufacturer General Electric Company (NYSE:GE) reported relatively lackluster third-quarter 2017 results and badly missed earnings estimate despite top-line growth. GAAP net earnings from continuing operations for the reported quarter were $1,905 million or 22 cents a share compared with $2,097 million or 23 cents a share in the year-ago quarter. Including industrial and other verticals, operating earnings were 29 cents per share, which missed the Zacks Consensus Estimate of 50 cents.
Revenues
Total consolidated revenue for the reported quarter increased 14% year over year to $33,472 million and surpassed the Zacks Consensus Estimate of $31,921 million. While the Industrial segment revenue improved 10% year over year to $30,046 million, GE Capital revenues declined 8% to $2,397 million. Organic revenues for the Industrial segment decreased 1% for the quarter to $26,911 million.
General Electric Company Price, Consensus and EPS Surprise
Zacks Investment Research
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.