BOSTON — General Electric Co. today reported third-quarter net income of $1.26 billion, after reporting a loss in the same period a year earlier.
The Boston-based company said it had net income of $1.08 per share. Earnings, adjusted to account for discontinued operations, were 57 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 41 cents per share.
The industrial conglomerate posted revenue of $18.43 billion in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $19.13 billion.
GE expects full-year earnings in the range of $1.80 to $2.10 per share.