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GE earnings rise on emerging market growth

An employee of General Electric (GE) speaks on the phone at GE Energy Belfort's plant on November 19, 2009. GE Energy in Belfort produces medium- and high-power gas turbines and specializes in the design and construction of electrical power plants installed worldwide. AFP PHOTO / SEBASTIEN BOZON (Photo credit should read SEBASTIEN BOZON/AFP/Getty Images)

General Electric Co. (GE) is reporting that net income rose 8 percent in the fourth quarter as earnings at all of the conglomerate's industrial segments improved due to growth in developing economies.

GE, based in Fairfield, Conn., reported net income of $4 billion on revenue of $39.3 billion for the quarter. Last year during the same period the company earned $3.7 billion on sales of $38 billion. Per share earnings rose to 38 cents from 35 cents last year.

The company's operating profit per share was 44 cents, a penny higher than analysts polled by FactSet expected. GE's revenue also beat analyst expectations of $38.8 billion.

The company cited strong growth in emerging markets and in regions that are exploiting natural resources, including Russia, Australia, Latin America, China and Sub-Saharan Africa.