General Electric quarter profit up 8.3%

GE said that third-quarter net income came to $3.49 billion,or 33 cents per share.

General Electric Co posted an 8.3 percent rise in quarterly profit,as solid demand in the United States and Asia for its electric turbines and railroad locomotives helped to offset Europe’s woes.

The largest U.S. conglomerate said on Friday that third-quarter net income came to $3.49 billion,or 33 cents per share,compared with $3.22 billion,or 22 cents per share,a year earlier.

Factoring out one-time items,the profit was 36 cents per share,meeting the analysts’ average forecast,according to Thomson Reuters I/B/E/S.

Revenue rose 2.8 percent to $36.35 billion from $35.36 billion.

The global economy is uncertain,and we are prepared for a variety of economic outcomes,said Chief Executive Jeff Immelt,who confirmed the company’s target to increase earnings at a double-digit percentage rate in 2012.

Tags:
world news

After $102 million heist, Louvre moves crown jewels to Bank of France vault

World9 hr ago

The Louvre has moved valuable treasures to the Bank of France after a daring heist exposed security flaws. The transfer of select pieces, including France's crown jewels, was under heavy police escort. The heist, in which priceless items were stolen and damaged, has sparked national outrage and embarrassment for the government.

View all shorts

Live Blog

PHOTOS