5 Stocks Gaining Attention After Posting Earnings Reports

4. General Electric Company (NYSE:GE)

Number of Hedge Fund Holders: 53

General Electric Company (NYSE:GE) reported better-than-expected earnings for the fourth quarter. However, its revenue fell short of expectations, sending its shares down more than six percent in the pre-market trading session on Tuesday, January 25, 2022.

The company earned 92 cents per share on an adjusted basis, significantly higher than 58 cents per share in the year-ago quarter. Analysts were expecting General Electric Company (NYSE:GE) to post earnings of 87 cents per share.

In addition, General Electric Company (NYSE:GE) posted revenue of $20.3 billion, down 3 percent on a year-over-year basis and below expectations of $21.5 billion.

Looking at the performance of its key business units, power revenue fell 13 percent to $4.66 billion, healthcare revenue slipped 4.1 percent to $4.63 billion and renewable energy revenue declined 5.6 percent to $4.19 billion. On the bright side, aviation revenue rose 4 percent to $6.08 billion in the quarter.

Commenting on the quarter, CEO of General Electric Company (NYSE:GE), H. Lawrence Culp, said:

“We’re seeing real momentum and opportunities for sustainable profitable growth from near-term improvements in GE’s businesses, especially as Aviation recovers and our end markets strengthen.”