General Electric Company (NYSE:GE) shares jumped early Wednesday after the conglomerate reported a third-quarter adjusted profit that beat estimates and raised its cash-flow guidance.
Shares recently traded up 9% to $9.93 in pre-market trading in New York.
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The Boston-based company said it now expects full-year industrial free cash flow to be between $0 and $2 billion, compared with its earlier forecast of negative $1 billion to positive $1 billion.
GE said it posted a $1.3 billion loss in the third quarter, compared with a loss of $22.96 billion a year earlier.
But on an adjusted basis, the company generated more profit than expected, beating analysts' estimates. GE earned $0.15 cents per share, compared with $0.11 cents that analysts had expected.
Total revenue fell slightly to $23.36 billion from $23.39 billion.
The results signaled “progress in the transformation of GE,” CEO Larry Culp said.
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