GE 4Q Profit Drops 19% On Finance-Arm, NBC Weakness

General Electric Co. (GE) on Friday beat expectations with a 19% drop in fourth-quarter earnings, with an upbeat outlook that foresees a return to growth in 2011.

Orders have improved since its investor update in December, with delinquencies in its problematic finance unit also trending down, though commercial real-estate remains a key concern.

"The world we look at really has improved," said chairman and CEO Jeff Immelt on a conference call with analysts.

Net profits for the December quarter of $3.01 billion, or 28 cents a share, compared with $3.72 billion, or 35 cents, a year earlier and a 26-cent consensus forecast among analysts. Revenue dropped 10% to $41.44 billion.

GE shares were up 4.6% to $16.75 premarket.

Read Full Article from Wall Street Journal

- Posted: 2010-01-22 10:26:14

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