Key takeaways
- General Electric reported better-than-expected earnings and sales, raising its full-year guidance
- The company is set to split into two businesses by Q2 next year
- GE’s share price rose 5.3% at the earnings beat
Talk about an earnings beat. General Electric’s third-quarter earnings came in above expectations almost across the board, in excellent timing ahead of the company splitting into two separate businesses. Earnings, profit and revenue were all up, and the company’s full-year guidance was raised in return.
It wasn’t all plain sailing, though, with the company cutting growth forecasts for jet engine deliveries this year as supply chain woes still hit the sector. Wall Street didn’t mind, though, with GE’s stock price climbing higher on Tuesday.
Support authors and subscribe to content
This is premium stuff. Subscribe to read the entire article.
Login if you have purchased