From RTT News:

GE reported a 24% decline in Q4 net profit despite 15% revenue growth and improved margins. Adjusted earnings topped estimates, but Q1 guidance is below expectations. Shares are trading at $128.20, down 2.31% in pre-market activity. Q4 net income is $1.59 billion, down 24%, and adjusted earnings were $1.03 per share. Total revenues grew 15% to $19.42 billion, with organic revenue up 13%. Total orders grew 8% to $21.7 billion, and profit margin improved 90 basis points to 10.3%. GE Aerospace revenues improved 12% to $8.52 billion, Renewable Energy revenues grew 23% to $4.21 billion, and Power revenues were up 15% to $5.79 billion. Looking ahead, GE projects Q1 adjusted earnings in a range of $0.60 to $0.65 per share on high-single-digit revenue growth. For fiscal 2024, GE Vernova expects revenue of $34 billion to $35 billion, while GE Aerospace expects adjusted revenue to grow low double digits and operating profit of $6.0 billion to $6.5 billion. Rushab Kumar



Read more: GE Q4 Profit Down 24%, But Tops Estimates