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Washington, Jumada II 17, 1435, Apr 17, 2014, SPA -- General Electric Company (GE) posted lower first-quarter net profit than a year ago, because last year’s results included the sale of its NBC Universal television and film unit, but the conglomerate said its industrial divisions performed well and the economic environment was “positive.”
GE reported Thursday that its profit in the January-March period fell to $3 billion from $3.5 billion in the same quarter a year earlier. Revenue fell 2.1 percent to $34.2 billion from $34.9 billion a year ago. The profit figure narrowly beat Wall Street estimates, while the revenue figure missed expectations.
The company backed its previous 2014 financial targets.
GE sold its remaining interest in NBC Universal last year as part of a plan to focus on building and servicing complex industrial equipment like aircraft engines, power-plant turbines, and oil and natural-gas drilling equipment.
The company has been able to grow its revenue and profit at such industrial divisions in recent quarters. Operating profit from industrial operations rose 12 percent in the first quarter. The oil and gas, power and water, and aviation divisions all posted sharply higher profits. Transportation and appliances fell, along with the company’s small energy-management division.
GE has a good view of the global economy because it has manufacturing plants and sales operations around the world. GE recently reported that European operations performed better than expected, while developing countries saw growth. Its U.S. business improved in March, evidence that the slowdown this winter was related to unusually cold weather.

--SPA
18:43 LOCAL TIME 15:43 GMT
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Manama, Safar 02, 1436, November 24, 2014, SPA -- King Hamad bin Isa Al Khalifa, King of the Kingdom of Bahrain, met here today with Jordanian Foreign Minister Nasser Judeh, who is currently on a visit to Manama. During the meeting, they discussed bilateral relations between the two countries...
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Riyadh, Safar 02, 1436, November 24, 2014, SPA -- Abdulrahman bin Abdulaziz Al-Hazza'a, President of the Saudi Broadcasting and Television Commission, received Salem Al-Habsi, Arab Gulf Union for Sports Information President, in Riyadh to attend the ongoing Arab Gulf Soccer Championship 22....
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Manama, Safar 02, 1436, November 24, 2014, SPA -- Bahrain's minister of information affairs Sameera Ibrahim bin Rajab hosted a dinner party in honor of visiting heads of Arab news agencies taking part in the 42nd general assembly of the Federation of Arab News Agencies (FANA). Rajab, who...
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Riyadh, Safar 02, 1436, November 24, 2014, SPA -- Three defendants, members of a terror cell accused of committing many crimes against the nation and religion, were today sentenced to different terms of imprisonment. They face several accusations, including travel to civil war-hit and dispute-stricken...
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