Fairfield, Conn. - GE reported lower earnings and revenues for the first quarter, which ended March 31.
First-quarter earnings from continuing operations were $2.3 billion, down 18 percent from the first quarter of 2009. Revenues were $36.6 billion for the quarter, down 5 percent from a year ago, reflecting acceleration of GE Capital downsizing.
In its home and business solutions unit revenue was $1.94 billion, up 1 percent from the prior year's first quarter. Profit for the unit was $71 million, up 58 percent.
At GE Capital revenue was $12.3 billion, down 10 percent, and profit was $607 billion, down 41 percent.