GE beats forecast, but profits down 35 percent

Filed under: Company News General Electric ( GE ) posted a net profit that’s down 35 percent from last year, but beat Wall Street expectations. Wall Street expected a 21 cents per share profit and GE posted a profit of 26 cents per share. Revenue for GE fell 9 percent to $38.4 billion. Analysts forecast revenue to hit $39.8 billion. So GE beat expectations mainly due to its cost cutting moves. The

division everyone was watching, GE Capital, earned $1.1 billion and the company said it expects the division to be profitable for the full year. Continue reading GE beats forecast, but profits down 35 percent GE beats forecast, but profits down 35 percent originally appeared on Daily Finance on Fri, 17 Apr 2009 07:45:00 EST. Money. Finance|Finance|Finance|Finance

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GE beats forecast, but profits down 35 percent