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News Watch
- 10/17/2008 2:15:32 PM
By Chip Brian, SmarTrend Analytics Team
Today, General Electric Co. (NYSE:GE) posted its 2Q fiscal results that matched Wall Street predictions. Profit fell 3.9% to $5.4 billion or $0.54 per share, from $5.6 billion or $0.54 per share in the year-ago period. Revenue increased 11% to $46.9 billion. Increased demand for turbines, jet engines and commercial loans helped bolster sales for the period, while CEO, Jeffrey Immelt, is attempting to sell or spin-off the companies slower growing divisions, such as its appliance and lighting units.
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