Shares in the General Electric Company (NYSE:GE) edged lower in pre-market trading as fourth quarter revenue came in a bit light.
The industrial holding company reported revenue of US$33.09bn, down from US$33.89bn the year before and less than the US$33.63bn the market had been expecting.
Adjusted earnings per share tumbled to 46 cents a share, matching the market consensus forecast. Factoring in exceptional charges, earnings per share were 45% lower at 39 cents compared to 64 cents the year before.
The company reiterated its earnings guidance for the current year, but that did not stop the shares dipping 62 cents in pre-market trading to US$31.21.
"We executed on our 2016 goals and continued to drive growth across our businesses through the GE Store while investing in additive manufacturing and digital technology," declared Jeff Immelt, who is chairman and chief executive officer of GE.
"We delivered US$1.49 of earnings per share this year and 1% of organic growth. We reported US$32.6 billion of free cash flow and dispositions and returned US$30.5 billion to share owners through dividends and buyback," he added.