Strong Industrial Performance At GE Boosts EPS To Beat Analysts' Estimates

Total industrial profit rose 9% and earnings per share grew by an impressive 14% for the quarter on a year-over-year basis. Within the industrial division, 5 out of 7 segments reported growth in earnings. Oil and gas continued to remain a drag on overall industrial revenues, with crude oil prices not showing recovery over the quarter. The segment witnessed an 8% fall in revenues. However, the drop in profits was limited to 3% due to various cost-cutting initiatives implemented by the company.