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UPDATE: GE Posts Upbeat Q3 Profit

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General Electric Co (NYSE: GE) reported an 8.6% drop in its third-quarter net profit.

GE's quarterly profit declined to $3.2 billion, or $0.31 per share, down from $3.5 billion, or $0.33 per share, in the year-ago period. Its operating earnings came in at $0.36 per share. Excluding one-time items, it earned $0.40 per share.

Its total revenue fell to $35.7 billion from $36.3 billion. However, analysts were expecting a profit of $0.35 per share on revenue of $35.96 billion.

Revenue from GE Capital declined 5.4% to $10.67 billion.

GE shares rose 2.11% to $25.20 in pre-market trading.

Posted-In: profitEarnings News

 

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