G.E. Profit Up 57% Despite ‘Volatile’ Economy

[n2doc]

By CHRISTINE HAUSER
Published: October 21, 2011

General Electric, the nation’s largest industrial company, on Friday reported net earnings for the third quarter of $3.2 billion, up 57 percent from the same period in 2010 despite what the chief executive called a “volatile” economic environment.

The company said it had operating earnings per share of 31 cents, exactly in line with expectations of analysts surveyed by Thomson Reuters. That excluded the $0.08 per share impact of its redemption of Berkshire Hathaway shares, which it subsequently redeemed this month for $3.3 billion. But the company said it expected that retiring the stock would improve annualized earnings per share by $0.03 in future quarters.

Revenue for the period from July through September, 2011, was $35.4 billion, which the company described as flat when compared with the third quarter of 2010. When the impact of the sale of NBC Universal to Comcast was excluded, the revenue for the quarter was up 12 percent.

Analysts had forecast $34.93 billion in revenue, according to a survey compiled by Thomson Reuters.

more

http://www.nytimes.com/2011/10/22/business/ge-profit-up-despite-volatile-economy.html?hp&gwh=AAFE130B62390E70228ACD0D2E55452C

[TBMASE]

1. Their income tax liability will rise 57% too

[Scuba]

4. Let's see.. .they paid nothing last years, so....

[TBMASE]

5. It will be 57% more than that

Score!

[Scuba]

2. World's largest defense contractor. Did the article say how much of that profit...

... is taken directly from the taxpayers and added onto the earnings of the wealthy investors in London and Hong Kong?

[JohnnyRingo]

3. Not doing a good job of sharing the wealth according to this chart

This is the chart I've had on my watch list for a few years since I heard the company would rebound nicely after the great crash and become a good investment. This chart is current up to 20 minutes ago.

As you can see, I never found an entry point, and I made that blue line a little over 2 years ago at what I thought would be a ceiling. If it dipped below that line considerably without good reason, I'd take a closer look at investing. I gave up holding my breath soon after

Regardless, it doesn't appear stockholders have been getting much of a return on all that profit:




I wish I was as good at picking winners. LOL

On edit: Quarterly earnings statements tend to have an upbeat soundtrack and rosy verbiage despite real world circumstances. ie: They may accent profits and quickly gloss over debt costs or for that matter, billions in bonus payments.