10/24/2023 – 8:37
General Electric (GE) recorded adjusted earnings per share of US$0.82 in the third quarter of 2023, reversing a loss of US$0.17 per share in the same period last year, according to a balance sheet released this Tuesday. The result of the American multinational was well above the consensus of analysts consulted by FactSet, who predicted earnings per share of US$0.56.
GE’s net income between July and September was $84 million, or $0.08 per share. In the same quarter of 2012, the company had suffered a loss of US$313 million.
GE’s revenue expanded 20% annually in the third quarter, to US$17.3 billion, also above FactSet’s projection of US$15.5 billion.
For 2023, GE raised its guidance for adjusted earnings per share to a range of $2.55 to $2.65 from the previous range of $2.10 to $2.30.
At around 7:50 am (Brasília time), GE shares jumped 6% in pre-market trading in New York.
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