US conglomerate General Electric has reported stronger than expected profits as earnings from energy and manufacturing offset weakness at its finance and media businesses.
The company's net profit was $3 billion in the final quarter of 2009, bringing the profit for the full year to $11.2 billion.
'GE's environment has improved and we saw some encouraging signs at year-end,' chairman and chief executive Jeff Immelt said. The overall profit amounted to 28 cents a share, two cents better than expected by analysts.
Revenues fell 10.4% from a year earlier to $41.4 billion in Q4, but were also ahead of expectations.
The company, which makes aircraft engines, energy equipment and owns the NBC Universal media entertainment group, said the profits fell 22% from the same period a year ago.
GE's energy division, which makes wind turbines as well as oil and gas equipment, was the best performer with an operating profit of $2.2 billion, up 9% from a year ago.
