GE Earns $2 Billion in Q3

Down 18%

GE, which makes aircraft engines, home appliances and energy equipment, said overall revenues were $35.9 billion for the quarter. Third-quarter net earnings of $2.0 billion on Oct. 15, an 18% slip from the same period a year ago.

CEO Jeff Immelt said "company execution was strong in the quarter" and added that for "the first time in eight quarters, we saw growth in both equipment and service orders," noting a rise in orders in aircraft engine sales to the Emirates airline.

The firm said earnings from continuing operations attributable to GE were $3.2 billion, up 29% from the third quarter of 2009, but it also posted a loss of $1.1 billion from discontinued operations.

The American firm also said it expected fourth-quarter industrial revenues to grow sequentially from third quarter and be about flat with the year-ago period.

Copyright Agence France-Presse, 2010

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