Why Shares of General Electric Are Surging Today
Shares of General Electric (NYSE: GE) traded up more than 10% on Wednesday morning after the beleaguered industrial conglomerate reported third-quarter results that came in ahead of expectations and provided an optimistic forecast on free cash flow. The company is still in the early stages of a recovery, but investors are liking what they are seeing so far.
Before markets opened Wednesday, GE reported adjusted third-quarter earnings of $0.15 per share on revenue of $23.36 billion, beating consensus analyst expectations for $0.11 per share in earnings on sales of $22.9 billion. Healthcare and aviation led the way, with the company's sprawling energy business remaining the laggard.
GE's healthcare operations performed well in the quarter. Image source: General Electric.
Source Fool.com
