GE Wind Energy business grows
GE on Friday reported they met analysts expectation with 6% decline in profits in second quarter industrial giant said it’s fighting against a "burdened U.S. consumer." GE reported it earned $5.07 billion, or 51 cents a share, from $5.38 billion, or 52 cents a share, in the year-earlier period.
With businesses in aircraft engines, oil drilling equipment and wind turbines said revenues for the quarter rose 11% to $46.89 billion.
CEO Jeff Immelt in a statement. "Opportunities in emerging markets, infrastructure, commodities and global healthcare are creating demand for our businesses, while we fight through the difficulties of a burdened U.S. consumer, a tough housing market, inflation and volatile capital markets. Even with all this uncertainty, we still see growth opportunities ahead."
GE held onto its guidance for 2008 earnings between $2.20 and $2.30 a share.
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