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McDonald's, GE Beat Analyst Estimates Friday, January 22, 10:44 AM ET
Two Dow Components reporting earnings this morning beat analyst expectations. We’ll see if that’s enough to drive the Dow higher today.
General Electric (NYSE:GE) posted a 19 percent decline in earnings, to $2.94 billion, or 28 cents per share. That compared to earnings of $3.65 billion, or 35 cents per share, in the same quarter last year.
Revenue fell 10 percent, to $41 billion, as jet engine profits and demand for other heavy equipment fell. Chairman and CEO Jeff Immelt did say that the company saw encouraging signs, such as improving orders for big equipment, by year-end.
GE’s full-year 2009 earnings fell 37 percent.
Also today, fast food behemoth McDonald’s (NYSE:MCD) beat expectations as earnings surged 23 percent.
Earnings totaled $1.22 billion, or $1.11 per share, at the Golden Arches, as compared to $985.3 million, or 87 cents per share, in the same quarter last year.
Revenue rose 7 percent to $5.97 billion, as same store sales climbed 2.3 percent.
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