EARNINGS : GE Revenue Rises on Air Engines
FAIRFIELD, Conn. — General Electric Co. said today that sales of aircraft engines and power generation equipment, and a strong performance by its financial services business, gave the company a 9% boost in third-quarter earnings.
For the quarter, after-tax profit totaled $1.02 billion, or $1.16 a share, compared with earnings of $945 million, or $1.04 per share, a year ago.
Revenue for the quarter rose 9.2% to $14.2 billion from $13 billion in the same period a year ago.
For the first nine months of 1990, earnings rose 10.5% to $3.06 billion, or $3.44 a share, from $2.77 billion, or $3.06 a share, in 1989. Nine-month revenue rose 7%.
“GE had a good quarter despite the weakening economy and the current situation in the Middle East,†said John F. Welch Jr., chairman of GE.
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