Printer Friendly
Email to a Friend
Enlarge Font
Decrease Font
The Associated Press
Comment on this story
General Electric Co. spared investors any nasty surprises as it reported a 22 percent drop in third-quarter earnings Friday, meeting its own lowered forecast and blaming the decline on its struggling finance arm.The company's loan and lease business has been hammered by the worst financial crisis since the 1929 stock market crash. GE, which also makes everything from jet engines to water treatment systems and owns NBC Universal, reported net income of $4.3 billion, or 43 cents a share. Sales rose 11 percent to $47.23 billion.GE shares rose 13 percent, the most in at least 28 years.
All rights reserved. This copyrighted material may not be published, broadcast or redistributed in any manner.
Get $150+ in coupons in every Sunday N&O. Click here for convenient home delivery.
