General Electric (GE) met EPS consensus for Q2 and posted surprisingly strong revenue. Barring disturbing details, this performance will likely quiet some of the cries for a full GE break-up and Immelt ouster, especially with GE’s announcement that it is considering floating its consumer and appliance division as a public company.
GE posted EPS of $0.54, in line, and revenue of $46.9 billion, which significantly exceeded the street’s expectation of $45.31 billion. Guidance remained unchanged, and CEO Jeff Immelt reiterated his prediction that GE would finish 2008 with EPS between $2.20 and $2.30.
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