Earnings GE Profit Drops 44 Percent; NBCU Earnings Slid 6 Percent

This story was written by David Kaplan.
NBC Universal's profit fell 6 percent to $865 million, as the General Electric (NYSE: GE) unit continued to be buttressed by its cable holdings and dragged down by local TV. The figures were reported within parent GE's Q4 results, which plummeted 44 percent to $3.7 billion in what CEO Jeff Immelt described in an understatement as "a very tough environment." Meanwhile, NBCU's revenues fell 3 percent to $4.4 billion, as GE's sales ended down 5 percent to $46.2 billion. More to come

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By David Kaplan