General Electric said today it expects 11 of its 13 businesses to produce double-digit earnings growth next year as the US conglomerate counts on an improving economy to lift performance.
GE expects 2004 earnings per share between $1.55 to $1.65 a share. Analysts were expecting GE to earn $1.64 a share in 2004, according to the consensus estimate compiled by Reuters Research.
Yesterday, GE announced its intention to split off most of its mortgage and life insurance operations through an initial public offering. GE chairman Mr Jeff Immelt said the move is an important step in moving the company into faster growth businesses.
