GE Appliance Segment Shows 3Q Profit Growth Oct 23, 2012

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GE Corp. announced third quarter 2012 operating earnings of $3.8 billion, up 10% respectively from the third quarter of 2011.

All GE Industrial segments had positive earnings growth - the first time that has happened since the third quarter of 2005. The Home & Business Solutions segment, which includes the GE Appliances business, showed double-digit earnings growth.

The Home & Business Solutions segment had 3Q 2012 profit of $61 million, up 61% from $38 million in 3Q 2011. In the first nine months of 2012, segment profit was $218 - the same as in the first nine months of 2011.

Home & Business Solutions had 3Q 2012 revenue of $2,120 million, up 1% from 3Q 2011 revenue of $2,094 million. For the first nine months of 2012, revenue was $6,415 million, up 3% from $6,236 million in the first nine months of 2011.

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