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News > Companies
GE sees strong first quarter
March 21, 2000: 1:16 p.m. ET

Company expects to report quarterly profit above expectations; stock rises
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NEW YORK (CNNfn) - General Electric Co. on Tuesday said it sees its first-quarter profit outpacing Wall Street estimates, driven by growth in order rates, and healthy operations around the world.
    Shares of the $111 billion conglomerate, whose interests range from TV broadcasting to jet engines to financing, rose 5-1/4, or about 3.7 percent to 146-3/16 in early afternoon trade. A Dow Jones Industrial Average component, GE's gains contributed to the closely watched index's 114 point rise on Tuesday afternoon.
    In a brief press release, GE (GE: Research, Estimates) said it is enjoying robust momentum so far this year, thanks to strong economies and increasing acceptance of GE products and services "across most of their businesses in all regions of the world." Fairfield, Conn.-based GE said its order rates are running about 20 percent ahead of 1999 levels.
    "Given the current outlook, we expect to modestly exceed the first quarter consensus estimate of $0.75 per share," GE's Chief Financial Officer Keith Sherin stated. The company reported a profit of 65 cents a share in the same period one year ago. Back to top

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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.