GE beats 4Q profit forecasts

FAIRFIELD, Conn. (AP) — General Electric Co. today reported fourth-quarter net income of $5.15 billion.

The Fairfield, Conn.-based company said it had profit of 51 cents per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, were 56 cents per share.

The results surpassed Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 55 cents per share.

The industrial conglomerate posted revenue of $42 billion in the period, falling short of Street forecasts. Analysts expected $42.4 billion, according to Zacks.

GE shares have fallen nearly 4 percent since the beginning of the year, while the Standard & Poor's 500 index has stayed nearly flat. The stock has decreased almost 7 percent in the last 12 months.