General Electric reported a slightly higher fourth-quarter profit and raised the low end of its 2006 earnings forecast, citing strong order growth, but quarterly revenues fell short of forecasts.
GE shares, part of the Dow Jones industrial average, slipped to $34.40 from their Thursday close of $34.68 in pre market trading on the Inet electronic system.
The company, whose size and range of businesses make it a gauge of the overall US economy, said five of its six businesses contributed double-digit earnings growth during the quarter.
But, as expected, profits and sales fell at GE's media unit, NBC Universal - its only division to forecast flat earnings growth this year.
Profit from continuing operations rose to $5.77 billion, or 55 cents a share, from $5.72 billion, or 54 cents a share, a year earlier.
The company raised the lower end of its 2006 profit forecast by 2 cents a share, now targeting earnings from continuing operations at $1.94 to $2.02, an increase of 13 percent to 17 percent.
GE shares are down about 1 per cent over the past 52 weeks, lagging both the Dow, which is up 4 per cent, and the Standard & Poor's 500 Index .SPX>, which has gained 10 percent.