NEW YORK (AP) — GE's net income rose 49 percent in the third quarter to $3.49 billion as its recovery from the 2008 financial crisis continues.
Revenue at the company rose $1 billion, or 3 percent, to $36.35 billion. GE earned 33 cents per share in the quarter, up from 22 cents per share during the same period last year.
When adjusted to remove the effect of restructuring costs and a gain from the sale of NBC, the company posted earnings of 36 cents per share, which is what financial analysts expected, on average, according to FactSet. Analysts expected slightly higher revenue of $36.95 billion.
General Electric Co., based in Fairfield, Conn., is focusing on its industrial businesses and paring down its financial and other non-industrial divisions.