LONDON (ShareCast) - Fourth quarter results from US energy giant General Electric (GE) came in slightly ahead of estimates but still showed an 18% decline on the year.

Fourth quarter operating earnings (including discontinued operations) totalled $3.7bn, or 35 cents per share, down 18% from $4.5bn the year before, equal to 42 cents per share. Earnings from continuing operations were 39 cents a share, up 3% year-on-year, and above the 38 cents-a-share estimate according to Reuters.

Revenue fell to $38bn from $41.2bn in 2010. The FactSet consensus of analysts were expecting $40bn.

In a statement, Chief Executive Officer Jeffrey Immelt expressed confidence in obtaining double digit growth in the Industrial and Capital segments, increased margins, and dividend growth in line with earnings.

"We expect continued volatility in 2012 and have prepared for it by investing in new products and technology, expanding our growth market footprint and taking important steps to strengthen risk management," Immelt said. "We are restructuring our businesses in Europe to reflect market conditions."

Shares were down 1.31% at $18.90 in mid-morning trade in New York.

S.B.

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