Why GE Aerospace Stock Is Flying High Today
GE Aerospace (NYSE: GE) beat analyst expectations in the fourth quarter and announced plans to boost returns to shareholders. Investors cheered, sending GE shares up 10% as of 10 a.m. ET.
GE Aerospace was long considered one of the crown jewels inside of the General Electric conglomerate. Now independent, the company is demonstrating to investors what it is capable of. GE earned $1.32 per share in the fourth quarter on revenue of $10.8 billion, easily surpassing Wall Street's consensus $1.04 per share on $9.5 billion estimates.
For the year, GE reported profit up 27% to $7.6 billion on revenue up 9% to $38.7 billion.
Source Fool.com
