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GE earnings hit 1Q record
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April 8, 1999: 9:58 a.m. ET
Earnings jump 14% on 7% revenue gain, meet analysts' forecasts
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NEW YORK (CNNfn) - General Electric Co. said Thursday its first-quarter earnings rose 14 percent to a record $2.155 billion, or 65 cents a share, from $1.891 billion, or 57 cents a share, a year earlier.
The results met expectations of analysts surveyed by First Call.
Revenue, including acquisitions, rose 7 percent to a record $24.165 billion from $22.626 billion.
First-quarter operating margin was 16.3 percent of sales, up from last year's 15.1 percent, and was a record for the quarter, the company said.
Fairfield, Conn.-based GE (GE), the only original Dow component, credited the results to increased business in its wide range of operations, including jet engines and television broadcasting (GE owns NBC) and to operations of GE Capital, the firm's financial services arm.
"In addition to delivering record first-quarter results, GE's businesses made aggressive moves to position themselves for strong future growth," Chairman John F. Welch said.
GE shares were up 7/8 at 113-5/8 in early trading Thursday. 
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General Electric
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