GE revenue lower than expected

General Electric Co's (GE.N) fourth-quarter revenue fell short of Wall Street expectations, with Europe's weakening economy and weak sales of appliances the main culprits.

But the largest conglomerate held to its forecast of double-digit profit growth this year, saying that it would expand in rapidly growing economies and cut costs in Europe, particularly at its health care arm.

Revenue fell 7.9 percent to $37.97 billion, down from $41.23 billion and below the $40.03 billion analysts had expected. Factoring out the effects of last year's sale of a majority stake in NBC Universal revenue would have been up 4 percent.

Read Full Article from Reuters

- Posted: 2012-01-20 12:42:23

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