Why Shares of General Electric Are Up Today
General Electric (NYSE: GE) shares are a rare bright spot on an otherwise miserable day on Wall Street, up 10% as of noon EDT, after the industrial conglomerate reported better-than-expected quarterly results and said it is making progress restructuring the business.
Before markets opened on Wednesday, GE reported adjusted third-quarter earnings of $0.06 per share on revenue of $19.4 billion, well ahead of analysts' consensus expectation for a $0.04-per-share loss on revenue of $18.7 billion. The results were messy, with non-cash impairment charges muddying the non-adjusted numbers.
Image source: General Electric.
Source Fool.com
