General Electric's 3Q adjusted profit surprises Wall Street
General Electric narrowed its losses in its third quarter as it trimmed expenses and managed to post an adjusted profit that surprised Wall Street. GE lost $1.19 billion, or 14 cents per share, for the three months ended Sept. 30. Earnings, adjusted for one-time costs and asset impairment costs, were 6 cents per share. For the year to date, it has reduced debt by $11.7 billion, including $8.1 billion in GE Industrial debt and $3.6 billion in GE Capital debt. Quarterly revenue declined to $19.42 billion from $23.36 billion, but still topped the $19.15 billion that analysts predicted.