LONDON (MarketWatch)
General Electric on Friday posted a fourth-quarter net profit of $3.8 billion, or 35 cents a share, down from $4.8 billion, or 42 cents a share, a year earlier
On an operating basis, earnings came in at 39 cents a share. Revenue slipped to $38.0 billion from $41.2 billion, a year ago
Analysts polled by FactSet Research were looking for the conglomerate to report a profit, on average, of 38 cents a share on sales of just over $40 billion
"We are confident in our 2012 framework to realize double-digit earnings growth in our Industrial and Capital segments, increase margins and provide dividend growth to our shareholders in line with earnings," GE Chairman and CEO Jeff Immelt said
He warned, however, that he expects "continued volatility" in 2012 and that GE is restructuring its businesses in Europe to reflect market conditions.
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