GE Q1 net falls 31 pc at $1.95 billion

Revenues in the first quarter of this year fell five per cent to $36.61 billion, GE said in a statement.

“Segment profit fell 16 per cent compared with the first quarter of 2009, as 12 per cent growth at Energy Infrastructure was more than offset by earnings decline of 41 per cent at GE Capital, 18 per cent at Technology Infrastructure and 49 per cent at NBC Universal,” it said. Moreover, the company noted that revenues dropped mainly due to the acceleration of downsizing at GE Capital. The company’s Energy Infrastructure division raked in profit to the tune of $1.48 billion, while profits for the Technology Infrastructure division declined to $1.4 billion in Q1, FY’10.

At the end of the first quarter, GE had $70 billion of consolidated cash, while total orders were worth $17.1 billion.

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