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Earnings meet expectations

Friday, April 11, 2003 | 9:48 a.m.

FAIRFIELD, Conn. -- General Electric Co. reported today that its first-quarter profit rose 20 percent as a majority of businesses posted double-digit profit growth.

GE earned $3 billion, or 30 cents per share, for the three-month period ended March 31, compared with net income of $2.5 billion, or 25 cents per share, for the same period last year. Before a one-time charge, GE had earnings of $3.2 billion, or 32 cents per share.

Revenue fell 1 percent to $30.3 billion from $30.5 billion.

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