Posts lower earnings for 2Q but meets EPS target; flat revenue weaker than expected.
July 11, 2003: 6:38 AM EDT
NEW YORK (CNN/Money) - General Electric Co. posted its third straight quarter of lower earnings Friday as the conglomerate met Wall Street expectations for the period.
The company, whose businesses include light bulbs, power systems, jet engines and television networks, earned $3.8 billion, or 38 cents a share in the second quarter. That was down from $4.4 billion, or 44 cents a share, it earned a year earlier, but in line with forecasts of analysts surveyed by earnings tracker First Call.
Revenue was essentially flat at $33.4 billion, coming in a bit weaker than the First Call forecast of $33.6 billion.
Shares of GE (GE: Research, Estimates) fell 19 cents to $28.19 Thursday.
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