GE Vernova (GEV) Rallies 14.6% to New Record High on Strong H1 Earnings

We recently published 10 Stocks With Eye-Popping Double-Digit Gains. GE Vernova Inc. (NYSE:GEV) is one of the biggest performers on Wednesday.

GE Vernova surged to a new all-time high on Wednesday as investors cheered its higher revenue outlook for the year amid a strong earnings performance in the first half.

At intra-day trading, GE Vernova Inc. (NYSE:GEV) jumped to a new 52-week high of $633.72 before paring gains to finish the day at $629.03 apiece, bolstered by its revenue outlook upgrade for the full year to between $36 billion and $37 billion—or the high-end range of its previous guidance.

Adjusted EBITDA margin was also expected to grow between 8 and 9 percent at high single digits.

In the second quarter of the year, GE Vernova Inc. (NYSE:GEV) posted an 11-percent increase in revenues at $9.1 billion versus $8.2 billion in the same period last year, pushing its six-month revenue higher by 11 percent to $17.1 billion from $15.46 billion.

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Net income for the quarter, however, dropped by 61 percent to only $492 million from $1.28 billion year-on-year, while net profit for the first half dropped by 35.6 percent to $756 million from $1.174 billion year-on-year.