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GE 3Q Appliance Profit Up 73%
Dec 10, 2013
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GE Home & Business Solutions segment reported third-quarter 2013 revenues of $2.098 billion, up 7% from the third quarter of 2012. Segment profit was $77 million, up 28% from 3Q 2012.

Appliance revenue was up 11% in the quarter, driven by the contract channel and by strong retail sales. GE saw the appliance business continue to improve during the quarter.

"Appliances operating profit was up 73% driven by positive value gap and productivity," said General Electric Company CFO Jeff Bornstein during an earnings conference call.

Revenues from Lighting, which is also part of GE Home & Business Solutions, were down 1% in the quarter.

GE overall reported third-quarter 2013 operating earnings of $3.7 billion, down 3% from the third quarter of 2012. Revenues were $35.7 billion for the quarter, down 1% from 3Q 2012.

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