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Economy
In reply to the discussion: STOCK MARKET WATCH -- Friday, 20 January 2012 [View all]xchrom
(108,903 posts)49. GE revenue lower than expected, Europe a worry
http://uk.reuters.com/article/2012/01/20/uk-ge-idUKTRE80J0RY20120120
(Reuters) - General Electric Co's (GE.N) fourth-quarter revenue fell short of Wall Street expectations, with Europe's weakening economy and weak sales of appliances as the main culprits.
The largest U.S. conglomerate expects a volatile year but it plans to expand in emerging markets and cut back in Europe. Its shares fell 2.2 percent in premarket trading.
Its profit came in 1 cent per share above Wall Street's forecasts.
"We're concerned about the revenue miss," said Oliver Pursche, president of Gary Goldberg Financial Services in Suffern, New York. "That's really what we're focused on this earnings season. We're not so concerned about being a penny above or below expectations, because that can be handled with accounting."
(Reuters) - General Electric Co's (GE.N) fourth-quarter revenue fell short of Wall Street expectations, with Europe's weakening economy and weak sales of appliances as the main culprits.
The largest U.S. conglomerate expects a volatile year but it plans to expand in emerging markets and cut back in Europe. Its shares fell 2.2 percent in premarket trading.
Its profit came in 1 cent per share above Wall Street's forecasts.
"We're concerned about the revenue miss," said Oliver Pursche, president of Gary Goldberg Financial Services in Suffern, New York. "That's really what we're focused on this earnings season. We're not so concerned about being a penny above or below expectations, because that can be handled with accounting."
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