GE revenue takes hit from Europe

City A.M. Reporter
General Electric Co's fourth-quarter revenue fell short of Wall Street expectations because of slower-than-expected growth in Europe, sending its shares down 2.5 per cent in premarket trading.

The world's biggest maker of jet engines and electric turbines said net income from continuing operations rose 0.6 per cent to $3.93bn (£2.53bn), or 37 cents per share, compared with $3.90bn, or 36 cents per share, a year ago.

Factoring out one-time items, profit came to 39 cents per share, above the 38 cents analysts had forecast.

Total revenue came to $37.97bn, down from $41.23bn and below the $40.03bn analysts had expected. Factoring out the effects of last year's sale of a majority stake in NBC Universal revenue would have been up 4 percent.