CAMBRIDGE, Mass. (AP) — CAMBRIDGE, Mass. (AP) — GE Vernova Inc. (GEV) on Wednesday reported first-quarter net income of $4.75 billion.
On a per-share basis, the Cambridge, Massachusetts-based company said it had net income of $17.44. Earnings, adjusted for non-recurring gains, were $1.98 per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.84 per share.
The the energy business spun off from General Electric posted revenue of $9.34 billion in the period, also topping Street forecasts. Seven analysts surveyed by Zacks expected $9.3 billion.
GE Vernova expects full-year revenue in the range of $44.5 billion to $45.5 billion.
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