GE Aviation profits rise, GECAS profits fall in 3Q2009

General Electric Company (GE) reports (22-Oct-2009) the following financial highlights for the three months ended 30-Sep-2009:

• Total revenue: USD37,799 million, -20% year-on-year;
  • Technology Infrastructure: USD10,209 million, -11%;
    • GE Aviation: USD4,542 million, -6%;
  • Capital Finance: USD12,161 million, -30%;
    • GECAS: USD1,150 million, -9%;
• Total costs: USD35,824 million, -15%;
• Segment profit: USD4,442 million, -26%;
  • Technology Infrastructure: USD1,748 million, -8%;
    • GE Aviation: USD970 million, +16%;
  • Capital Finance: USD263 million, -87%;
    • GECAS: USD191 million, -33%;
• Net profit: USD2,499 million, -44%. [more]

GE: "In a global economic environment that is beginning to slowly recover, GE delivered solid third-quarter business results. We continue to execute on our plan at Capital Finance, perform well in a slow-growth industrial environment and strengthen the balance sheet with strong cash generation. We are aggressively controlling costs, increasing our industrial backlog while expanding margins, and capitalizing on strong services performance," Jeff Immelt, Chairman and CEO. Source: GE, 22-Oct-2009.