Markets

​GE tops earnings expectations, backs 2016 guidance

/ AP

General Electric topped Wall Street earnings expectations for the fourth quarter and reaffirmed its target for 2016.

The industrial conglomerate on Friday reported earnings, excluding the financial operations it's shedding, of 52 cents per share on $33.8 billion in revenue.

Wall Street had been looking for per-share earnings of 49 cents and revenue of $35.91 billion, according to a survey by FactSet.

Revenue from the company's industrial segment slipped 1 percent to $31.4 billion.

General Electric Co. also reaffirmed its goal for 2016 operating earnings of $1.45 to $1.55 per share.

Analysts expect earnings of $1.51 per share from the Fairfield, Connecticut, company.

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