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BUZZ-GE Vernova rises on quarterly profit jump

ReutersJan 22, 2025 3:13 PM

Updates

** Shares of turbine maker GE Vernova GEV.N up ~2.3% at $425.66

** Co reports jump in Q4 profit, helped by strong performance in its grid equipment and services segment

** Quarterly net income more than doubled to $484 mln

** Core profit in co's electrification segment jumped 68% to $283 mln from a year earlier

** "Potential investor enthusiasm from the Stargate announcement after yesterday's close, which could help support the stock this morning," J.P. Morgan analysts say in a note

** U.S. President Donald Trump on Tuesday announced private sector investment of up to $500 bln to fund infrastructure for artificial intelligence, aiming to outpace rival nations in business-critical technology

** GEV rose ~14.6% in 2024

(Reporting by Seher Dareen in Bengaluru)

((Seher.Dareen@thomsonreuters.com;))

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