Posted: Jan 18, 2013 4:56 AM
Updated: Jan 18, 2013 4:56 AM
General Electric Co. is reporting that net income rose 8 percent in the fourth quarter as earnings at all of the conglomerate's industrial segments improved due to growth in developing economies.
GE, based in Fairfield, Conn., reported net income of $4 billion on revenue of $39.3 billion for the quarter. Last year during the same period the company earned $3.7 billion on sales of $38 billion. Per share earnings rose to 38 cents from 35 cents last year.
The company's operating profit per share was 44 cents, a penny higher than analysts polled by FactSet expected. GE's revenue also beat analyst expectations of $38.8 billion.
The company cited strong growth in emerging markets and in regions that are exploiting natural resources, including Russia, Australia, Latin America, China and Sub-Saharan Africa.