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GE raises cash-flow guidance as adjusted 3Q profit beat estimates; shares jump pre-market

It now expects full-year industrial free cash flow to be between $0 and $2 billion, versus its earlier forecast of negative $1 billion to positive $1 billion

General Electric  - General Electric Company shares jumped early Wednesday after the conglomerate reported a third-quarter adjusted profit that beat estimates and raised its cash-flow guidance
The results signaled 'progress in the transformation of GE,' said CEO Larry Culp

General Electric Company (NYSE:GE) shares jumped early Wednesday after the conglomerate reported a third-quarter adjusted profit that beat estimates and raised its cash-flow guidance. 

Shares recently traded up 9% to $9.93 in pre-market trading in New York. 

READ: General Electric plunges after being accused by short-seller of perpetrating a massive accounting fraud

The Boston-based company said it now expects full-year industrial free cash flow to be between $0 and $2 billion, compared with its earlier forecast of negative $1 billion to positive $1 billion.

GE said it posted a $1.3 billion loss in the third quarter, compared with a loss of $22.96 billion a year earlier. 

But on an adjusted basis, the company generated more profit than expected, beating analysts' estimates. GE earned $0.15 cents per share, compared with $0.11 cents that analysts had expected.

Total revenue fell slightly to $23.36 billion from $23.39 billion.

The results signaled “progress in the transformation of GE,” CEO Larry Culp said.

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Price: 6.4 USD

NYSE:GE
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Market Cap: $56.02 billion
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