AGL 40.25 Increased By ▲ 0.25 (0.63%)
AIRLINK 127.60 Increased By ▲ 0.56 (0.44%)
BOP 6.57 Decreased By ▼ -0.10 (-1.5%)
CNERGY 4.50 Decreased By ▼ -0.01 (-0.22%)
DCL 8.64 Increased By ▲ 0.09 (1.05%)
DFML 41.90 Increased By ▲ 0.46 (1.11%)
DGKC 87.62 Increased By ▲ 0.77 (0.89%)
FCCL 32.65 Increased By ▲ 0.37 (1.15%)
FFBL 65.00 Increased By ▲ 0.20 (0.31%)
FFL 10.26 Increased By ▲ 0.01 (0.1%)
HUBC 109.59 Increased By ▲ 0.02 (0.02%)
HUMNL 14.57 Decreased By ▼ -0.11 (-0.75%)
KEL 5.12 Increased By ▲ 0.07 (1.39%)
KOSM 7.54 Increased By ▲ 0.08 (1.07%)
MLCF 41.49 Increased By ▲ 0.11 (0.27%)
NBP 59.55 Decreased By ▼ -0.86 (-1.42%)
OGDC 194.11 Increased By ▲ 4.01 (2.11%)
PAEL 28.25 Increased By ▲ 0.42 (1.51%)
PIBTL 7.80 Decreased By ▼ -0.03 (-0.38%)
PPL 151.85 Increased By ▲ 1.79 (1.19%)
PRL 26.45 Decreased By ▼ -0.43 (-1.6%)
PTC 16.15 Increased By ▲ 0.08 (0.5%)
SEARL 82.51 Decreased By ▼ -3.49 (-4.06%)
TELE 7.67 Decreased By ▼ -0.04 (-0.52%)
TOMCL 35.45 Increased By ▲ 0.04 (0.11%)
TPLP 8.17 Increased By ▲ 0.05 (0.62%)
TREET 16.11 Decreased By ▼ -0.30 (-1.83%)
TRG 52.84 Decreased By ▼ -0.45 (-0.84%)
UNITY 26.50 Increased By ▲ 0.34 (1.3%)
WTL 1.24 Decreased By ▼ -0.02 (-1.59%)
BR100 9,951 Increased By 67.8 (0.69%)
BR30 30,875 Increased By 274.8 (0.9%)
KSE100 93,875 Increased By 519.7 (0.56%)
KSE30 29,088 Increased By 157.1 (0.54%)

US conglomerate General Electric on Friday posted better-than-expected fourth quarter and 2010 profits, and said it was upbeat about the outlook for this year and the next. GE said 2010 profit jumped to $12.6 billion dollars, up 15.6 percent from $10.9 billion in 2009.
Earnings per share of $1.15 beat analyst expectations of $1.12. Full-year revenue fell 4.19 percent to $150.2 billion, but that was still above the average analyst estimate of $150.0 billion. For the fourth quarter, GE posted earnings of $3.9 billion.
The Connecticut-based giant, whose products range from aircraft engines to home appliances, reported earnings per share of 36 cents, up 33 percent from the same period in 2009. Most analysts had anticipated earnings per share of 32 cents. Considered a bellwether for the US economy because of its highly diversified businesses, GE reported the first positive revenue growth in nine quarters in the final three months of 2010, as sales rose to $41.4 billion.
"GE ended 2010 with three consecutive quarters of strong earnings growth," Jeff Immelt, GE chairman and chief executive, said in a statement. Immelt said the company's total orders backlog grew $3.1 billion in the final three months "to a record $175 billion."
"GE exits 2010 with significant momentum," he said. "As we shared at our December 2010 investor update, we expect that GE earnings growth will continue in 2011 and 2012." Shares in GE surged 5.64 percent higher to $19.47 in early New York trade.

Copyright Agence France-Presse, 2011

Comments

Comments are closed.