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General Electric Q4 revenue up 4%

Staff writer ▼ | January 24, 2015
General Electric reported $42 billion in fourth quarter revenue, up 4% from the same period last year. Net earnings came in at $5.2 billion or 51 cents a share.
General Electric
The fourth quarter   $42 billion in fourth quarter for GE
The results bring GE’s full year revenue to $148.6 billion and its net earnings to $15.2 billion, up 2% and 17% respectively.

General Electric' oil & gas business suffered, as did energy management division.
"GE ended the year with strong fourth-quarter industrial earnings and margin growth. The environment remains volatile, but we continue to see infrastructure growth opportunities," said CEO Jeff Immelt in a statement.

"We are pleased with our execution in 2014: meeting our commitment to grow industrial segment profits 10%, industrial segment organic revenue growth of 7%, increasing operating margins 50 basis points, decreasing costs by $1.2 billion, reducing the size of GE Capital and returning $11 billion to shareowners."

General Electric' oil & gas business suffered, as did energy management division. The price of oil has declined by close to a half in the later part of 2014. The oil & gas business’ revenue declined 6% to $5 billion and energy management’s declined 2% to $2 billion.

The company plans to merge the energy management arm with Alstom’s Power and Grid businesses. That $16 billion deal was announced in June of last year and is expected to close on July 1, 2015. GE hopes is industrial business will make up 75% earnings by 2016. As of September the company estimated 60% of its earnings came from industrial.


 

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