GE Reports Lower Earnings, Sales

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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.


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