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GE announced its 2014 results this morning, capping a year in which the company launched the biggest acquisition bid in its history for Alstom, took public its consumer lending business, Synchrony, and announced the sale of its Appliances business to Electrolux.
The big portfolio moves will help GE generate 75 percent of earnings from its core industrial businesses and 25 percent from its financial arm, GE Capital, by 2016. Just four years ago, about half of GE’s earnings came from GE Capital. Today, that figure stands at about 30 percent.
The company has been also building up its services business and expanding its software offerings for the Industrial Internet. Today, its software solutions can monitor everything from blowout prevents for subsea oil wells to the electrical grid and medical records.
In 2014, GE also opened up its Predix software platform. for the Industrial Internet. In December, Japan’s Softbank Telecom became the first licensee. There is a $12 billion data analytics market in Japan alone that can benefit from Predix apps.
Follow the link to an infographic illustrating the financial results and see the earnings webcast.
Top image: A view of Stargate, the nickname for Clemson University’s massive grid simulator. The facility holds the world’s most advanced rig for trying and validating wind turbine drivetrains, the machinery that connects the spinning main shaft and gearbox to the electricity generator. GE has used it to test its latest wind turbine technology.
