General Electric Co said Friday that revenue for the third quarter rose 3 per cent year-on-year to 36.3 billion dollars, shy of the 36.9 billion dollars predicted by analysts.
The US manufacturer's shares dropped by around 2 per cent in
pre-market trading on the news.
Infrastructure orders dropped 5 per cent, "primarily driven by a
decrease in orders for wind turbines," the company said in its
earnings report. A US tax credit for wind turbines is to expire soon.
The company's medical and jet engine products also suffered
decreased demand as health-care providers and airlines reined in
spending amid the economic crisis, financial news agency Bloomberg
said.
"The global economy is uncertain, and we are prepared for a
variety of economic outcomes," chief executive Jeff Immelt said at
the headquarters in Fairfield, Connecticut.
The firm was still on track to reach its projected yearly revenue
growth of 10 per cent, he said.
