GE Cuts Revenue Forecast Due To GE Capital

Jeff Immelt, CEO of GE

Photo: Flickr/eschipul

Just breaking now, via Bloomberg: GE has cut its revenue growth forecast for 2013 to 3% from 5%.The stock is off 2% in pre-market trading.

Earlier, GE said that global growth was pretty much decent everywhere.

Via email, GE Clarifies:

Hi Joe—just so you have the right info—the reason you saw the Bloomberg headlines is that we’ve already hit our full-year target for taking down GECC ENI to $425bn. So we’re ahead of plan on shrinking assets there for the full year. We still expect ~10% organic revenue growth for Industrial business this year.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at