- EPS: 17 cents a share vs. 22 cents a share expected, according to analysts surveyed by Refinitiv.
- Revenue: $ 33.28 billion vs..
GE shares rose 3 percent in premarket trading from Wednesday's close of $ 9.10 a share.
"Our strategy is clear: leverage our balance sheet and strengthen our businesses, Starting with Power, "GE Chairman and CEO Larry Culp said in a statement. GE and create value. "
GE's adjusted fourth-quarter earnings came in at 17 cents a share, a 60 percent decline from the same period last year.
The company's power business year-over-year declines, with falling profits 25 percent. GE said the power unit "what is negatively impacted by continued execution and operational issues."
The GE Capital portfolio remains under scrutiny, as shareholder watch to see if GE can reduce the company's outstanding debt. Additionally, GE's Investigations into GE's accounting practices. GE said it was "cooperating" with both investigations, which started following a review of GE Capital's insurance portfolio.
GE spun off several businesses in 201
J.P. Morgan's Stephen Tusa warned investors earlier this week that the stock may turn lower after the results. Tusa, who said he was a GE, has said that a level around $ 6 a share was the bottom. GE closed Wednesday trading at $ 9.10 a share.
Tusa laid out six "key questions" GE should answer this quarter, including an update on the issues facing its new turbines and guidance for headwinds in the aviation business.
Gordon Haskett analyst John Inch told GE that may change the way it reports its accounting. "Shifting the company's earnings presentation to generally accepted accounting principles." GE's earnings presentations have historically not included any restructuring charges, which are often more than $ 1 billion per quarter.