General Electric today said third-quarter profit rose 15 per cent amid rebounding earnings at its energy business and strong demand for jet engines.
The conglomerate posted net income of $4.68 billion, or 44 cents per share, compared with $4.07 billion, or 38 cents per share, a year earlier.
The results matched analysts' estimates and the company's own forecast last week. Revenue rose 9 per cent to $41.93 billion, ahead of Wall Street expectations for $41.2 billion.
Strong demand for new commercial aircraft continues to drive orders of GE's jet engines, while a solid economy is spurring activity across the company's array of businesses, including plastics, health care products and commercial finance.
Revenue at media arm NBC Universal fell 26 per cent from a year earlier when it benefited from advertising from the summer Olympics in Athens. NBC's prime-time television lineup suffered from disappointing ad sales despite solid profits from cable television.
GE repeated its earnings outlook of $1.81 to $1.83 a share for the full year and forecast fourth-quarter profit of 56 cents to 58 cents. Analysts on average are expecting $1.82 for the year and 57 cents for the quarter.
So far this year, GE shares have fallen 7 per cent, slightly worse than a 5 per cent decline on the Dow Jones industrial average
