General Electronic Co Revenue Beats Expectations

The strong sales to a number of aviation customers and clients are helping boost the revenues earned by General Electronics. The first quarter revenue of the company has managed to beat down the expectations that had been made from the side of the Wall Street. All the action took place on Friday when the company reported its earnings for the first quarter. The fears that were linked to the reports of the lukewarm in the month of March have been assuaged now.

The company happens to be the biggest and most veteran maker of jet engines as well as electric turbines. They have reported that the revenues have risen slightly to the level of about $ 35 billion. These amounts have surpassed the amounts which the analysts had expected. Jack Degan, a chief executive officer of a share-holding advisory said that it is all a beat on the revenue and is also important because the street had been quite confused and worried in terms of the revenue numbers all because the quarter had been appearing to have tailed off. In short, he is quite happy in terms of the increases of the revenue of GE.

At the start of this month, The Institute of Supply Management had pointed out the slowest rate of growth in terms of the factory activity in the month of March, which suggested that the economy did come to lose some momentum at the very end of the 1^st quarter. While the investors as well as the interested analysts are desperately awaiting for some more information in terms of the sales, the company has mentioned that the orders from the side of the aviation customers have been increased about 47 % and at the same time, the orders from the energy customers have also increased about 24 %.

The order backlog of the company had also increased from $ 210 billion to about $ 216 billion in terms of the 4^th quarter of the year 2012. The backlog is a positive indicator of the fact that the customers are willing to wait in terms of getting their hands on the products of the company. The stocks have managed to gain nearly 8 % till now for this year.