BOSTON — General Electric Co. today reported a fourth-quarter loss of $3.84 billion, after reporting a profit in the same period a year earlier.
On a per-share basis, the company said it had a loss of $3.55. Earnings, adjusted to extinguish debt and to account for discontinued operations, came to 82 cents per share.
The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 83 cents per share.
The industrial conglomerate posted revenue of $20.3 billion in the period, also falling short of Street forecasts. Four analysts surveyed by Zacks expected $21.22 billion.
GE expects full-year earnings in the range of $2.80 to $3.50 per share.