General Electric's stock surged Wednesday after the industrial conglomerate raised its 2019 cash flow forecast and reported adjusted third-quarter earnings and revenue that topped analysts' expectations. On a nonadjusted basis, and including certain accounting charges, GE still lost $9.5 billion in the quarter.

GE shares jumped 11.5% on heavy trading volume to close at $10.11 a share, its second best day of trading this year.

Here's what the company reported versus what Wall Street expected:

EPS: adjusted 15 cents a share, vs. 11 cents a share expected by analysts surveyed by Refinitiv.

Revenue: $23.36 billion, vs. $22.93 billion expected in the Refinitiv survey.

"Our results reflect another quarter of progress in the transformation of GE," Chairman and CEO Larry Culp said in a statement.

GE said its closely watched industrial free cash flow, which is used as a gauge of efficiency, totaled $650 million. FCF is money left over after a company pays for operating expenses and capital spending. The company increased its 2019 forecast for industrial FCF to a range of flat to $2 billion, up from a range between negative and plus $1 billion.

"We are raising our industrial free cash flow outlook again even with external headwinds from the 737 Max and tariffs," Culp said.