General Electric's Third Quarter Not Up to Wall Street Expectations

SUGAR LAND--October 23, 2012--Researched by Industrial Info Resources (Sugar Land, Texas)--Wall Street had high hopes for General Electric Company's (NYSE:GE) (GE) (Fairfield, Connecticut) third quarter financial performance. Analysts on Wall Street projected that GE's profit would increase 20.9% compared to last year. Their projections were not perfect because GE's profits rose 7% to $3.5 billion. Analysts at Wall Street also projected that GE would have an increase of 4.1% (to 36.81 billion) in revenue from the quarter a year earlier. In reality, GE's total revenue rose 3% to $36.3 billion, so GE's financial performance was not as great as Wall Street thought it would.