News Summary: General Electric 4Q earnings rise

Published on NewsOK Modified: January 18, 2013 at 1:39 pm •  Published: January 18, 2013
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EMERGING GROWTH: General Electric Corp.'s earnings rose 8 percent and revenue rose 4 percent, ahead of analysts' expectations, thanks to strong growth in emerging markets and in countries that are exploiting natural resources.

GROWING PORTFOLIO: GE reported increased profits at all seven of its industrial segments, with growth topping 10 percent at four of them — oil and gas, energy management, aviation and transportation.

THE OUTLOOK: GE said its backlog of new business reached a company record of $210 billion. In a conference call with investors, CEO Jeff Immelt said he expects resurgent growth in China to continue and for the U.S. housing market to continue its steady recovery.