General Electric just announced its fourth quarter financial results.
Operating earnings jumped 20% year-over-year to $US0.53 per share, which was right in line with expectations.
The global manufacturing conglomerate said organic revenues climbed 5%. Orders during the period jumped 8%.
“We saw good conditions in growth markets, strength in the U.S., and a mixed environment in Europe,” said CEO Jeff Immelt. “We had strong operating performance for the year and are pleased with our execution in 2013, taking $US1.6 billion of cost out, growing margins, reducing the size of GE Capital, and returning more than $US18 billion to shareholders.”
Orders, which represent future growth, grew 8% in the U.S., 3% in Europe, and 13% in the growth markets.
GE makes everything from wind turbines to jet engines to high-tech medical equipment. It is widely considered a good bellwether of economic activity.