Why General Electric Shares Are Soaring Today
Portfolio Pulse from Akanksha Bakshi
General Electric Co (NYSE:GE) reported Q2 FY23 revenues of $16.7 billion, an 18% YoY increase, beating the consensus of $15 billion. Adjusted EPS was $0.68, up from $0.36 a year ago, beating the consensus of $0.46. GE's Aerospace and Vernova Renewable Energy divisions saw significant growth, with revenues jumping 28% and 24% YoY respectively. The company also raised its FY23 guidance based on strong first-half performance. GE shares are trading higher by 5.5% at $116.35.
July 25, 2023 | 1:49 pm
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General Electric reported strong Q2 FY23 results, with revenues and EPS beating consensus. The company's Aerospace and Vernova Renewable Energy divisions saw significant growth. GE also raised its FY23 guidance, leading to a 5.5% increase in its share price.
General Electric's strong Q2 FY23 results, which beat consensus estimates, and the raised FY23 guidance indicate a positive outlook for the company. This has led to increased investor confidence, reflected in the 5.5% increase in the company's share price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100