General Electric Company (NYSE:GE) a top player in gainers on the Dow DJIA in Friday trading, increase approximately 4% at $25.61. The company has trading high in recent trading sessions since the market ragged in 2008. The increase in high trading price is mainly due to the company’s third financial quarter earnings result that revealed many of the company businesses nicely heading into the next year.
The increase in the Q3 sale result of many of its divisions is due to downsize GE Capital, that decrease 5% in the Q3, shrinking its overall revenue. But despite the fact that it has positive result in many of its businesses but still its financial division’s restructuring charges and low revenue that slide 8.6% were mainly due to Q3 fell 9% to $3.19 billion, while revenue down 1% to $35.73 billion. While in last year the firm earned $3.49 billion, and declared revenue of $36.3 billion, its EPS decreased 31 cents, from 33 cents in 2012.
Its industrial division’s sale increase 11% to $3.97 billion from a year ago, the company gains in double-digit in six of its nine market regions.
As the firm declared lower overall profit and revenue in Q3, but its better sales in industrial equipment gave investors hope that its transformation of its business is going in the positive way.
The company declared its earning better than Wall Street expectations by 11% growth in profit at its industrial units that mainly consist of CT-scanners, aircraft engines, oil and gas drilling equipment, gas turbines and locomotives.
But it was assumed in 2008 financial crises that the company would not be capable to survive as whole because of its huge banking division. But the company has since reduce the size or sold many its banking operations as well as other its non-industrial units including NBC Universal. Since then the firm hasn’t yet completely restore lost profit and revenue. General Electric Company (NYSE:GE) share increased 3.53% to $25.55 in last trading session.