GE to Disclose More Information
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General Electric Co. became the latest corporate titan to say it would shed more light on its inner financial workings in the wake of the Enron Corp. collapse.
The world’s largest company by market capitalization bowed to investor pressure and said it will break out revenue and operating information for 26 of its three dozen businesses, including GE Capital, which contributes about 40% to its overall profit.
Some investors have said GE’s huge financial-services arm, GE Capital, is the main engine of the company’s earnings, but investors know very little about its results. GE Capital’s earnings in fact have enabled the parent company to consistently meet or beat Wall Street estimates, critics say.
GE said it will incorporate the changes in its annual report, to be released around March 8, as well as in earnings releases and filings with the Securities and Exchange Commission.
GE shares rose $1.17 cents at $37.57 on the NYSE.
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