GE sees higher 2017 operating profit, sticks to 2018 EPS target

(Reuters) – General Electric Co GE.N said on Wednesday that it expected 2017 operating earnings between $1.60 and $1.70 a share, and stuck to its 2018 earnings forecast of $2 per share.

The forecast is higher than the company’s 2016 estimated operating earnings of $1.48-$1.52 per share. (http://invent.ge/2gJLoWW)

Analysts on average were expecting a 2017 profit of $1.67 per share, according to Thomson Reuters I/B/E/S estimates.

The industrial conglomerate said it expected 2017 revenue of about $135 billion, above estimates of $122.72 billion.

The company said it expects to return between $19 billion to $21 billion to investors next year, compared with about $30 billion in 2016.

GE’s shares were marginally down in late trading on Wednesday.

(Reporting by Anya George Tharakan in Bengaluru; Editing by Shounak Dasgupta)