Power and water business weighs on General Electric earnings
General Electric on Friday said third-quarter profit fell as revenue dropped in its power and water business, which makes a variety of turbines.
Net income fell to $3.19 billion, or 31 cents— per share, from $3.49 billion, or 33 cents per share, a year earlier.
Excluding items, the company posted earnings of 36 cents a share on revenue of $35.7 billion.
(Read more: Expect GE's slow, steady improvement to continue)
Analysts had expected the company to report earnings excluding items of 35 cents a share on $35.96 billion in revenue, according to a consensus estimate from Thomson Reuters.
GE shares moved higher in pre-market trading following the report. (Click here to get the latest quote.)
By Reuters. CNBC contributed to this report.