General Electric delivers solid results

General Electric Co. (NYSE:GE) delivered a solid fourth quarter, even showing improved results at laggard NBC Universal.

Profit from continuing operations rose 12 percent to $6.58 billion, or 64 cents per share, from $5.87 billion, or 56 cents, while revenue jumped 11 percent to $44.6 billion, the company said in a statement. Analysts were expecting profit of 64 cents on sales of $44.2 million, according to Thomson Financial. Our readers poll showed optimism, with 59% of readers believing GE would beat expectations.

There were gains in operating profit in every business but NBC Universal. All General Electric business showed increases in sales, helped by gains in sales of health-care equipment, power turbines and the growing popularity of NBC's primetime lineup. It also confirmed its plans to sell the plastics business. Yesterday, it announced the $8.1 billion purchase of the testing business from Abbott Laboratories.

Chief Executive Jeffrey Immelt has been disposing of some business and buys others with better growth prospects. He forecasted revenue in the current fiscal year of $1.97 to $1.99. The average Wall Street analysts' forecast is $1.98.

``We've got a pretty good track record,'' Immelt told Bloomberg News. ``We've been true to our word in reinvesting back into higher growth from slower growth.''

Investors pushed down General Electric shares in pre-market trading, indicating that they expected better results or more robust guidance.

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