Why General Electric Stock Crashed Today
Shares of General Electric (NYSE: GE)were down by 7% as of 12:06 p.m. ET Tuesday after the industrial giant (soon to become three smaller industrial companies) beat earnings expectations for its fiscal fourth quarter -- but missed badly on revenue.
Ahead of the report, analysts had forecast an $0.87 per share pro forma profit for General Electric, and it beat that number handily, earning $0.92 per share. On the top line, however, analysts were looking for $21.5 billion, but GE came up short with $20.3 billion.
Source Fool.com