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GE beats Wall Street forecasts as it refocuses on industry
General Electric Co. on Friday reported a decline in third-quarter profit, but strong performances from its core units helped the company top Wall Street expectations.

General Electric has been making a push to focus on industrial businesses — making large, complicated equipment for other companies — and shrinking its other businesses that focus on finance. The largest change involves selling most of GE Capital's assets, including $26.5 billion in real estate assets.

The Fairfield, Conn., company said profit fell 29% to $2.5 billion, or 25 cents a share. Revenue fell 1% to $31.7 billion.

Earnings, adjusted for non-recurring costs and to account for discontinued operations, came to 32 cents a share. Earnings including the GE Capital businesses that the company is keeping amounted to 29 cents a share. That topped Wall Street expectations with the average estimate of 11 analysts surveyed by Zacks Investment Research for earnings of 26 cents a share.

http://www.latimes.com/business/la-fi-ge-earnings-20151017-story.html