comsc US Politics | AMERICAblog News: General Electric to stop providing quarterly guidance
Join Email List | About us | AMERICAblog Gay
Elections | Economic Crisis | Jobs | TSA | Limbaugh | Fun Stuff

General Electric to stop providing quarterly guidance

| Reddit | Tumblr | Digg | FARK

This is a jaw dropper but it does provide a clear indication of how insane this market is today. Nothing is predictable and everything that you thought you knew yesterday is meaningless today. For a company to try and predict the future is a disaster waiting to happen. Moving away from such a strong focus (obsession, really) on quarterly numbers instead of the big picture wouldn't be such a bad idea, but I don't see that happening. It's nice to dream though.

General Electric said Tuesday that it will no longer provide specific quarterly earnings guidance, though the company affirmed its earnings target for 2008.

GE told investors that it expects profit at its industrial units to range from flat to up 5 percent with its GE Money financial services business earning $5 billion.

The U.S. conglomerate did not provide a specific 2009 earnings per share target, in a break with its prior practice.

blog comments powered by Disqus