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General Electric Q2 EPS increased 65%

Staff Writer |
General Electric Company reported second-quarter Industrial operating plus Verticals EPS (Non-GAAP) of $0.51, an increase of 65% from $0.31 last year.

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Industrial operating plus Verticals earnings increased 48% to $4.67 billion from $3.15 billion, last year.

Second-quarter earnings from continuing operations attributable to common shareowners increased to $3.28 billion from $1.68 billion. Earnings per share from continuing operations was $0.36 compared to $0.17, prior year.

Total revenues and other income increased 15% year-over-year to $33.49 billion from $29.23 billion. Analysts expected revenue of $31.76 billion, for the quarter.

For fiscal 2016, General Electric reaffirmed Operating (Industrial plus Verticals) EPS guidance of $1.45-1.55. The company expects organic growth in a range of 2-4%. Analysts polled by Thomson Reuters expect the company to report profit per share of $1.50.

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