Why General Electric Stock Is Rising

General Electric Co GE shares are trading higher Tuesday after the company reported better-than-expected financial results.

GE said second-quarter revenue increased 2% year-over-year to $18.65 billion, which beat the estimate of $17.6 billion, according to data from Benzinga Pro. The company reported quarterly earnings of 78 cents per share, which beat the estimate of 38 cents per share. 

GE said total orders reached $18.7 billion in the quarter. The company noted that aerospace was a key driver of its quarterly performance. 

"We continue to trend toward the low end of our 2022 outlook on all metrics except cash, which is lower due to timing of working capital and Renewable Energy-related orders," said Larry Culp, chairman and CEO of GE.

See Also: General Electric: Q2 Earnings Insights

GE Price Action: GE has traded between $103.73 and $59.93 over a 52-week period.

The stock was up 3.88% at $71.01 at time of publication.

Photo: courtesy of General Electric.