Deutsche Bank Reports 1Q11 Results On General Electric

According to Deutsche Bank, General Electric GE reported EPS of 33c - 5c ahead of the street and 3c ahead of its recently raised estimate. Deutsche Bank said that the driver of the beat was GE Capital which earned 17c vs. its 12c estimate, while Industrial came in with 16c - a couple of pennies below its 18c estimate. “Note that GE is calling out a 1c gain net of restructuring/ other charges from the NBCU disposal but appears to be including the Garanti gain (4c DBe) within operations. The company also raised its dividend from 14c to 15c which was unexpected and will be viewed positively, given GE's large retail base.” General Electric closed yesterday at $19.98.