General Electric Co. posted lower overall revenue and profit in the third quarter, but improving sales of complex industrial equipment gave hope to investors that the company’s transformation of its business is succeeding.
GE said Friday that net income fell 9 percent to $3.19 billion and revenue fell 1 percent to $35.73 billion in the third quarter. In last year’s comparable quarter, the company earned $3.49 billion on revenue of $36.3 billion. GE’s earnings per share dropped to 31 cents, from 33 cents last year. Still, results exceeded expectations on the strength of 11 percent growth in profit at its industrial divisions — those that make aircraft engines, CT-scanners, gas turbines, locomotives, and oil and gas drilling equipment.