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GE’s Profit Jumps 77%

Posted By admin On April 21, 2011 @ 6:58 am In Money Watch | Comments Disabled

BOB SECHLER
WSJ [1]
Thursday, April 21, 2011

General Electric Co. reported a 77% increase in first-quarter earnings, lifted by marked improvement at its GE Capital financing arm and gains at most of its industrial units.

The company also boosted its quarterly dividend by a penny to 15 cents. The move marks GE’s third dividend increase in the past year, although the payout remains well short of GE’s 31-cent dividend before the financial crisis and economic downturn.

“Our environment continues to improve and get better,” said Chairman and Chief Executive Jeff Immelt on a call with analysts, noting that the restructuring of GE Capital was ahead of plan while the quarter saw record orders for its industrial unit.

Mr. Immelt also said the company was “done” with major acquisitions after spending $11 billion to expand its energy unit.

Full story here.

GEs Profit Jumps 77%  250111banner3 [2]

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[1] WSJ: http://online.wsj.com/article/SB10001424052748703983704576276564256544634.html?mod=WSJ_hp_LEFTTopStories

[2] Image: http://www.stansberryresearch.com/pro/1011PSIENDVD/PPSIM128/PR

[3] Stock up with Fresh Food that lasts with eFoodsDirect (AD): http://www.efoodsdirect.com/

[4] Goldman Sachs Says It Didn’t Mislead Investors; Profit Jumps: http://www.prisonplanet.com/goldman-sachs-says-it-didn%e2%80%99t-mislead-investors-profit-jumps.html

[5] Halliburton’s quarterly profit jumps 83%: http://www.prisonplanet.com/halliburtons-quarterly-profit-jumps-83.html

[6] Halliburton profit jumps on strong U.S. demand: http://www.prisonplanet.com/halliburton-profit-jumps-on-strong-u-s-demand.html

[7] G.E. Profit Up Despite ‘Volatile’ Economy: http://www.prisonplanet.com/g-e-profit-up-despite-%e2%80%98volatile%e2%80%99-economy.html

[8] Wow, If You Doubted That Obama Was Going Corporate, Look Who’s Replacing Volcker: http://www.prisonplanet.com/wow-if-you-doubted-that-obama-was-going-corporate-look-whos-replacing-volcker.html

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