GE Profit Falls 42 Percent

General Electric has posted a quarterly decrease in profit of 42 percent, a result that, while disappointing in and of itself, actually marks an improvement from what analysts predicted for the massive company. In fact, GE’s results showed that its important industrial business is showing signs of recovery, hitting a record $174 billion backlog of equipment and services orders.
The company’s quarterly revenue was smaller than analysts expected, but the strong performance of its industrial and media businesses helped to stave off GE’s current main weakness, its GE Capital financial division. GE’s results sent its shares down 5.5 percent, or 92 …read more