GE revenue trails estimates, CEO lowers outlook » financialsurfer.com

GE revenue trails estimates, CEO lowers outlook

July 17th, 2009 | Category: Economy
By Scott Malone BOSTON (Reuters) - General Electric Co ( GE.N) warned investors that the economic contagion that has dragged down its finance and media businesses has spread to its heavy industrial units, prompting Chief Executive Jeff Immelt to lower his profit forecast for those businesses. Shares of the largest U.S. conglomerate fell 5 percent on Friday after it reported a profit that topped Wall Street’s expectations, but a 17 percent drop in revenue that…

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