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    GE's profit drops 22 pct in third quarter

    AP
    10.10.2008 - 15:57 | Son Güncelleme:

    General Electric, which makes everything from jet engines to water treatment systems and owns NBC Universal, says its third quarter profit fell 22 percent, hurt by its financing business.

    General Electric's results spared investors any nasty new surprises, meeting the lower end of the company’s revised earnings forecast from last month. General Electric, a bellwether for the U.S. economy, has blamed softening profits on its financial arm, battered since April by frozen credit markets and waning confidence in global financial systems.

    Shares of General Electric fell about 8 percent in pre-market trade Friday, amid signals of a sharply lower stock market open.

    General Electric said net income fell to $4.3 billion, or 43 cents per share, compared with $5.56 billion, or 54 cents, a year earlier.


     

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