“GE Stock Jumps As Earnings Top, Free Cash Flow Estimate Raised” [89% Earnings Jump]
July 25, 2023
“…Estimates: Analysts, on average, expected GE earnings per share of 46 cents on revenue of $14.762 billion. Year-over-year comparisons were muddied by the GEHC spinoff.
Results: GE earnings came in at 68 cents a share, up 89% from 36 cents a year ago, an earnings release showed. Revenue came in at $16.7 billion, increasing 18% vs. a year earlier. Orders surged 59% to $22 billion. Profit margins expanded…
GE narrowed losses in renewable energy by 14% and grew profits in the power segment by 18%. In addition, GE monetized 32% of its stake in GE HealthCare for total proceeds of $2.2 billion…”
https://www.investors.com/news/ge-stock-ge-earnings-q2-2023/?src=A00220