NEW YORK — General Electric Co. said Thursday that earnings jumped 77 percent in the first quarter, led by strong results in its financial services business.
The company's lending arm, GE Capital, has experienced big profit increases during the past few quarters. That's a sharp contrast from a few years ago, when risky loans forced GE to book huge write-downs in its lending business.
"As today's results show, GE has emerged from the recession a stronger, more competitive company," GE Chairman and CEO Jeff Immelt said in a statement.
General Electric reported net income of $3.43 billion, or 31 cents per share, for the three months ended March 31. That compares with $1.95 billion, or 17 cents per share, in the same period last year.
Revenue increased 6 percent to $38.45 billion.
6 comments:
Maybe they'll pay some of those back taxes now.
Wonder how much of that the big "o" gave them in bailout benefits.
Looks like Barak will have lots of Jane & John Does giving the maximum in campaign donotions for 2012.
Obama, the most corrupt presidency ever!
A poster child for the DNC
Goes to show you folks in this Country Money will get you anything to include the Presidency!!!
I suppose that now their revenue has increased and their taxes have been reduced, they will do what all corporations SAY they will do under those circumstances ---- create jobs. We are still waiting for that.
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