General Electric Profit Surpasses Expectations |
| New York Times - Jul 22, 2012 |
The General Electric Company reported a 2.5 percent rise in profit from continuing operations on Friday, topping Wall Street expectations as solid demand in the United States and emerging markets offset weakness in Europe.
The largest conglomerate by revenue in the United States stuck with its forecast for the remainder of 2012, saying it would increase earnings at a double-digit percentage rate by pushing profit margins higher.
In a move intended in part to cut costs, G.E. said it would break up its big energy division into three separate units.
“The environment continues to be challenging,” Jeffrey R. Immelt, G.E.’s chief executive, said in a conference call with investors. He said the United States economy was stable, adding that “Europe remains very tough, but within our expectations.”
Read Full Article from New York Times
- Posted: 2012-07-22 06:08:52
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