General Electric 2Q Earnings Pregame Scorecard

FOXBusiness

Having exceeded expectations last quarter by one cent per share, General Electric (NYSE:GE) is scheduled to report again on Friday.

Expectations

Continue Reading Below

Analysts currently expect General Electric to come in with earnings of 37 cents per share on revenues of $36.8 billion. Estimates from analysts range from 37 cents per share to 38 cents per share. Over the past three months, the average estimate has moved down from 38 cents.

Last Quarter's Results

In the first quarter, profit fell 11.6% to $3.03 billion (29 cents a share) from $3.43 billion (31 cents a share) the year earlier, but exceeded analyst expectations. Revenue fell 8.5% to $35.18 billion from $38.45 billion.

Stock Ratings

Analysts are bullish on the stock as eight analysts rate it as a buy and there are no sell ratings. Analyst sentiment has been waning recently, as the average rating has dropped slightly over the past three months.

Stock Movement

The stock price has been falling recently The share price has fallen $1.07 since June 29, 2012.

Company Fundamental Trends In terms of revenue, the company hopes that this earnings announcement will help it rebound from streak of four straight quarters of decreases. Revenue fell 4.9% over the second quarter of the last fiscal year, 1.5% in third quarter of the last fiscal year and 5.7% in the fourth quarter of the last fiscal year and continued to drop first quarter. On the heels of profit declines in the past two quarters, an income boost this time around would be welcome news. Net income fell 17.8% during the fourth quarter of the last fiscal year and yet again in the first quarter.

Summary

Reporting Period: 2Q

Date of Release: Friday, July 20, 2012 before market open

EPS: 37 cents

Revenue Estimate: $36.8 billion

(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)