GE cuts its full-year revenue growth forecast to 2%
The US-based General Electric slashed its full-year revenue forecast to a flat 2% growth, down from 2-4% growth. GE's weak revenue reflected the continuing reluctance of oil and gas companies to make new long-term investments, company officials said. However, GE's adjusted quarterly profit jumped 10% to 32 cents a share, exceeding the 30 cents that analysts had estimated on average.