Why Shares of General Electric Are Soaring Today
Coming into General Electric's (NYSE: GE) fourth-quarter earnings report, investors were focused on free cash flow. GE delivered a number that was much better than expected, helping shares to surge 11% higher at the open on Tuesday.
General Electric reported fourth-quarter adjusted earnings of $0.08 per share on revenue of $21.9 billion, falling a penny short of expectations on earnings but producing slightly better-than-expected revenue. But the real story was free cash flow. GE generated $4.4 billion in free cash flow from its industrials businesses in the quarter, nearly $2 billion more than what the company had forecast.
A GE9X engine on a plane. Image source: General Electric.
Source Fool.com
