GE profit falls to $3 b in Q4

GE’s profit from continuing operations slumped 22 per cent to US$3 billion for the last three months of 2009. In the comparable period, the same stood at US$3.9 billion. The entity in a statement said its revenues too dropped 10 per cent to US$41.4 billion in the December quarter compared to the same period a year ago.

Good growth at Energy Infrastructure & Consumer & Industrial units were more than offset by “declines of 67 per cent at Capital Finance, 30 per cent at NBC Universal and 16 per cent at Technology Infrastructure,” GE noted.  “GE’s environment has improved and we saw some encouraging signs at year-end,” Chairman CEO Jeff Immelt said. “During the difficult economy of 2009, we took a series of actions to improve GE so that we would be positioned for growth.”