All Posts Tagged With: "general electric earnings"

Weak Earnings from GE Spark Economic Concerns

By Jennifer Yousfi
Money Morning

General Electric Co. (GE) shocked the market when it announced a 6% drop in net income for the first quarter of 2007.

Continuing earnings per share for the quarter were down 8% to 44 cents per share, missing the mean of analyst expectations at 51 cents per share. Continuing earnings were down 12% from the same period a year prior to $4.4 billion.

“Demand for our global Infrastructure business remained strong, but our financial services businesses were challenged by a slowing U.S. economy and difficult capital markets,” GE Chairman and CEO Jeff Immelt said in a statement. “While we are…

14Apr2008 | Money Morning | Comments Off | Continued

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